Apart from being terrible for your BB bearings (which are radial, not thrust or ACB, i.e. engineered for axial loads), not running a tube spacer will lead to your sprocket bolt coming undone, and your spindle bolts too if you don't have pinchbolt cranks. One of the subtle things that 99/100 people don't realise, like how most hub wobble in hubs with a 14mm or 3/8" axle is caused by non-parallel dropouts or exploded driver bearings being caused by the bearing shoulder on the axle not being a right angle but instead a curve