Yes the snubber has not got the same strength as the chain so in most circumstances it is going to snap before the shackle, but you still do need to be a little careful.
If you take the key pin shackle shown in post# 21 for example. Wichard list the WL (working load) as only 800kg for the largest model with an 8mm pin.
Anchoring forces can exceed this. If the pin bends and it jams it is going to be difficult and slow to fix, at least on leaping foredeck with a dragging anchor.
It would need some extreme conditions for this to occur but for most boats the chain could not be retrieved until the shackle was removed.
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