Pretty sure it doesn't. When I played New Alexandria on Legendary, my Falcon took a huge hit from a fuel rod right off the bat. I completed most of the rest of the level without taking damage, but when I got to the end segment, I died from 3 shade bolts with full health. Of course, if the game had vehicle health bars, we would know for sure.
That's not even a real argument. Reach multiplayer is a competitive game. Competitive as in, players competing against eachother to determine who is the best based on skill, strategy, and teamwork.
When nothing takes skill, and the only strategy is camping with non-respawning power weapons, the game turns into a free for all where anyone can do as good as anyone else. Thus, it becomes uninteresting as a competitive platform.
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