In 1967 my parents bought me a 1963 P (originally white, rather chipped up in the body...which is why I had it re-painted in 1972...) a blackface Bassman and a 2x15 Fender cab. I still have the P and the Bassman amp.
That P was my only electric bass, and I liked the look of the covers. The foam was still in the bridge cover and I played it the way it was...mostly dinner jacket dance band stuff. I never even thought about removing the foam. I briefly had a cheap Japanese violin bass copy but the pickups were so microphonic that I couldn't really use it. Then I moved from home in 1973.
Fast forward to 1997 and the parents moved into a smaller home, so I picked up my gear and started playing bass again. That's when I got brave enough to remove the covers and look under them. After a while I carefully removed the foam and found that I liked the open strings just fine, so I've left it that way. But IMO that foam mute still has a place in music.
I know this isn't a forum where there are many Fender fans, but that old P is light, sounds good (even with the original strings still on it) and is the most valuable instrument I own.