At the job I am at now they put Rebar caps (orange plastic mushrooms) on the airterminals during the work day and remove them at night to protect the workers on the roof from the sharp points.
Bob Badger Construction & Maintenance Electrician Massachusetts
I was under the impression that a lightning rod has a very sharp point on it to help eliminate the splatter when the bolt hits it. I might be wrong though but that is what I was told.