Depends on what kind of threat are you concerned about.
As nothing gets written in the MacBook's disk, there's nothing to steal from it. Once your notebook is powered off, everything in RAM/cache/etc is gone. At this point, even if your MacBook is stolen, your sensitive material isn't there anymore.
There are, of course, risks from malware surreptitiously collecting data from your MacBook while it was running, while you were doing the copy, etc. Viruses, trojans, all the usual suspects. More scary nowadays in the manner in which they can get into your computer.
Then there are other interesting scenarios if you're up against very well funded enemies. E.g. perhaps the OS itself has been bugged, the processor's microcode is bugged, perhaps they could remotely pick up EM signals to decipher what's going on, etc.
For most casual users... full disk encryption is a good thing to have. I wrote an old post about it:
https://zitseng.com/archives/8573
Sidenote: For those who think SSL's really cool, and even if ignoring any protocol or implementation faults... there are things inherently wrong.
https://zitseng.com/archives/7489