Not outright, but it's more likely that a malicious actor utilizes the simpler or cheaper solution. $300/yr+ adds up, especially if you need to go through due diligence to acquire the EV.
From a compliance, regulatory & risk perspective, definitely.
The EV certificate often comes with additional liability protection to cover any end customer claims related to certificate issues (i.e., if the authority is compromised and the customer's PII becomes exposed).