I remember reading on a Leica forum that it was a recommended practice for Leica owners, supposedly to avoid theft when on location, abroad or street photography for instance. 

I always thought that it was a form of **false-modesty**.

 -  *“Oooh, you have taped the brand name, your camera must cost a a mint”!*

Taped brand names do attract a lot more attention than a brand, like Leica, which most of the world has never heard about and that looks like a hand-me down from grandpa.  

For modern looking DSLR taping would attracts even more attention and potential “thieves” will probably think: 

 - *"Oooh, that camera must be so much more expensive than it looks, else why would the fool bother trying to clumsily hide the brand."*

In my experience, the “poor bugger” in a 3d world country, except maybe for the most remote villager, does know what a good camera costs. They have they own reasons, outside the purview of this Q, to ask about how much you spent on it.