It isn't pleasant to get caught by one. And yes they are banded mainly to protect the lobsters from one another, as they'll cut off or crush the other lobsters claws which is a lot of wasted meat. And for the handling of them.
Just found this on google>
800-1,200 -- Bite force, in PSI, of a dog.
1,180 -- Pressure, in PSI, that a lobster's crusher claw can exert.