It offers limited protection from your state legislature in that it prevents total disarmament.
"To suggest that one has a right to "defend life and liberty" and "protect property" and "obtain safety" without the use of guns"
Personally, I would shoot for stronger language - something along the lines of "the people have the right to keep and bear arms".
But without explicit language to the contrary, that would only protect "sporting purposes", wouldn't it? All the "reasonable" restrictions in Kalifornia law would remain.