My experience using a smart BMS (ANT or JBD) is that they do work well for short circuit protection. I have purposely shorted a battery, then powered on the battery and BMS detected the fault and cut power immediately. I repeated this test 50 times in a row with the same result. I’m still using the same BMS for testing now 1 year later.
One issue is that when mosfets fail, they can fail shut. Which means if the BMS mosfets fail you are unable to turn off the battery.
For a catastrophic failure during use your VESC would need to fail and cause a short, and then the BMS would need to fail shut.
Adding a fuse does add another layer of protection, but does add two extra join in the electrical system, which adds another failure mode.