The cap is there to keep it from writing when it's not supposed to.
If you look at a Bic Crystal, there's a giant hole in the end of the cap. Supposedly this has to do with hazard/choking legislation and the hole allowing someone who swallowed the cap and had it lodged in their throat to still breath.
Even good($$$) twist or click action ballpoints just retract the tip into the pen body and don't actually seal it.
Rollerballs and fountain pens use water based inks that can dry out and must have a tight cap. The ink in ballpoint pens has more in common with newspaper ink than the ink in other pen types, and it doesn't readily dry until it's put in a thin film on the paper.