That's beside the point. Whether heroes would circle the wagons and protect her after her whole goddamn world collapses does not even begin to be relevant. Outing Oracle destroys Oracle. She and everyone she's ever loved gets a giant red target painted on their foreheads, all her contacts disappear, the government puts out warrants for her arrest, and even if she doesn't get sniped by a pissed-off black hat, she spends the rest of her life looking over her shoulder, requiring 24/7 watchdogging from her friends, or she and everyone she loves starting a new life under a new name from absolute scratch. Period. No amount of "but superheroes still like her!" makes the least bit of difference to the utter obliteration of the world knowing how to find Oracle.
The idea is to not let it get to that point. That is irreversible bullshit, the complete destruction of Oracle. She does not out Superman because it helps her. It clearly doesn't. She outs Superman because it does to Lois what Lois did to her, which Lois doesn't want to happen to her any more than Babs does... so Lois will not do anything to Babs in order to protect herself from that retaliation. That is what Mutually Assured Destruction is. That is why there has never been a nuclear war. It's not because we think shooting our nukes at people will somehow magically fix our bombed-out irradiated wasteland of a ruined country. It's because if you do that to us, you're doing it to yourself, and no one wants to hurt us so badly that they'll pay that price.
Babs is making sure Lois knows the price of hurting her, and that it's more than Lois is willing to pay. This prevents hurt of any kind. That's about as smart as you can get, and the only way to guarantee protection from as powerful a weapon as the one Lois has in knowing Oracle's identity.