Webbing hip belts have no structural load transfer ability to the hips; they are too flexible. What they do is pull horizontally so that the lumbar pad has enough surface tension on your lower back in order to transfer weight there.
Padded hip belts, depending on how rigid they are (and very lightly padded, highly flexible ones are quite different to one that is very stiff eg with a piece of plastic in it) can start to transfer some of that vertical vector of weight to your hips as well as the lumbar pad area.
This all depends on your load.
I think for lighter loads, the main comfort difference you feel between a wide webbing belt with or without padding, is more about how much "chafe" your hips can deal with, its not actually about load transfer of actual pack weight. None of that gravity vector at all is actually transferring. The tension you feel is literally just horizontal depending on the tightness of the hip belt, in order to apply enough pressure to the lumbar region, in order to create enough friction there to transfer vertical gravity force there.
If that makes sense :-)
I think this is a good reason why on some of the smaller GG packs, a thick webbing belt works well and there's not a huge amount of point in padding it up. Your own personal padding (flab) and what clothing you wear underneath the hipbelt and how that interacts with chafe is probably a bigger variable.