Yes, harm can come about and it's not really safe to operate long-term in this fashion. The choice of a material like bronze is softer than the inner liner (hard stainless) and the blade (even harder stainless, or semi-stainless, or carbon/tool steel) and it plays an active role in normal operation. I think the hard-softer-hardest/steel-bronze-steel format is much more desirable one than a hard-harder/steel-steel surface contact, especially on something like a folding knife that is going to see repetitive surface contact in which better designs over time will wear less.
While I am not an engineer, to my understanding, beyond reducing direct component wear and changing lubricity, these washers are redistributing load (as per BM design specs in which not using washers will change this completely), absorbing shock, reducing the chance that the pivot pin works its way out during operation, and reducing the chance of damage/loss of torque upon impact/shock.