Nice question and the answer was quite obvious. It should be pointed out though that just because you create a view WITH ENCRYPTION, it is still possible for users with the appropriate permissions to see the definition of the view. Also, WITH ENCRYPTION prevents the view from being published as part of SQL Server replication.
See below for the documentation from MSDN
Indicates that SQL Server will convert the original text of the CREATE VIEW statement to an obfuscated format. Note that obfuscated views can be reverse engineered because SQL Server must de-obfuscate views for execution. In SQL Server 2000, the obfuscated text is visible in the syscomments system table and may be susceptible to de-obfuscation attempts.
Using WITH ENCRYPTION prevents the view from being published as part of SQL Server replication.