For me in my area, yes, Kevlar would be overkill. Yes, I have stumps and some rocks but mostly mud. If I was going run a lot in areas of oyster shells, barnacles, etc. I would think that Kevlar might be warrented. Look around at other wood boats in your area. Do they use Kevlar on their hulls? I used 6 oz glass and regular epoxy like on the decks. Over the top of that epoxy I used a product from Florida called 9x-2000 which is an epoxy loaded with teflon and graphite. It was originally developed for the bottom of airboats. Made a real slick surface.
The other thing to consider, and this is only hearsay as I haven't used it, is that Kevlar can be a bitch to wet out so will take longer, etc. There are one or two guys on here that used Kevlar on their hulls but I don't remember who - hopefully they will speak up.