I guess all depends on the thickness of a hard varnish. My thought is simply that if we have a choice between a soft varnish and a hard varnish assuming that both have the same thickness, the hard varnish would be the better choice.
Looking back on what has been promoted in the past, soft varnish was regarded for long time the better choice. (Pure propolis and other strange recipes, all claiming to have rediscovered something) The argument was mostly that a hard varnish would prevent vibrations while an elastic film wouldn’t do that. However considering the thickness of the varnish in proportion to the thickness of the wooden plate underneath, I think it is just a misleading argument. I would rather argue that a rubbery substance on a wooden surface dampens most likely frequencies somewhere in the higher registers. (?) So wouldn’t it be better to aim for a varnish which is actually rather ‘glass like’? This includes also the thought that a somehow thicker coat of a hard varnish does less harm than a thicker coat of soft varnish.
PS: Regarding the positive effects of damping as discussed in a recent thread, I am wondering if it is a good idea to achieve it with the varnish.