If it's best for
your hair and if
you enjoy wearing your hair this way, it's good for you.
A lot of people choose protective styles and get breakage. However, there are numerous protective styles in which you most likely won't encounter any breakage at all unless you
try. For example: a classic bun requires more manipulation (and therefore
may cause breakages) than a french twist. A french braids requires more manipulation than the latter two, but if you're careful, can have the least breakage, etc.
It all depends on what styles you skillfully know how to create, how gentle you are with your hair, and how healthy your hair is.
If protective styles are for you, you'll find that when you moisturize your hair and keep the ends out of sight, they are still moisturized when you take your hair down, and you'll also have little to no split ends and no breakage.
To avoid breakage, buy Good Hair Days bun/chignon pins. Use these instead of a scrunchie to make your buns, twists, or whatever other styles.
Lubricate the pins with whatever creme or oil you use to moisturize. This will coat the strands and provide for easier take out so you don't pull your own hair. The pins also require less manipulation than scrunchies and you can create more styles with them.