In general, in my opinion, shoreline vegetation does actually inhibit erosion. It's generally good to have shoreline vegetation. Rooted vegetation, in particular, can help hold the soil together.
There have been quite a few studies elsewhere of animals burrowing into the banks—birds, muskrats or whatever. There was one study on crayfish. They showed that can actually change the erodibility of the soil. I'm not studying that here, but it is a factor in some places.
Certainly shoreline vegetation is very important.