It's the exact effect you're describing. Seatbelts aren't 100% efffective. When they were mandated, a common criticism was that this would increase risky driving. It did, a bit. But not enough to negate the significant safety effects of wearing a seatbelt.
> My issue is the poor effectiveness of this vaccine
One, it's still preclinical. We don't know its effectiveness in humans. But two, your argument is still historically invalid. Vaccines have been effective at the community level without being totally effective individually. And again, your concerns would apply more to PreP than the vaccine.
Your hypothesis wasn't a bad instinct. But you could have followed up on it or, when confronted with evidence against it, chosen not to double down.