Does it help?
The problem, it seems, is partly the glancing light that the hood helps with, but also internal reflections between the lens and the film. The inside of this camera is supposed to be matte black, but it's more of a satin finish and that causes all sorts of problems with stray light bouncing around, especially in bright conditions.
I've noticed this camera takes pretty good images in the shade (pretty good meaning proper contrast on paper while using a #2 filter). In bright light though (especially if there is a light source in the frame) I'll get a negative that has to be printed with a #3 or #4 filter, and still I'll have to do aggressive adjustments in PS to get something usable. It's just bad.
I did some searching and found others with this very problem. A popular mod for this camera is to add self-adhesive flocking in there to kill the light. Guess what's on the way?
This camera will be tamed.