First trip with Andersen Ultimate Hitch

OK, educate me here. I'm new to 5er ownership. Looking at your image, I see all those safety chains and appears to be connected to that red attachment.

So I looked at some other photos by doing a Google Search. The Anderson hitch uses a ball, not jaws, right? So I'm assuming that red thing transitions the 5er king pin to attach to that ball. Thus, the need for all those safety chains attached to the red thing? Am I correct so far?

So, if the King Pin is connected to the red thing and the red thing is connected t the Anderson ball, that means there's another layer of potential failure, meaning trailer separation from the truck ... thus the need for all those safety chains?

Apart from having a much lighter hitch assembly in the bed of your truck which apparently is very easy to remove and very easy to handle, I don't see any real advantage to the traditional jaws type hitch.

OK, like I said, I've been a new 5er user for only 5 weeks and trying to learn a whole new way of life here. So, educate me? If the Andersen is really that good, why the need for all the safety chains? I just don't get it.