No, I think the readability of the help documentation itself is largely the same whether it is placed in the header or in a dedicated function. When I'm viewing the shell script code though, often I want to jump right in and see the actual code, not look at the help documentation.

By having the help documentation in a function in the middle or towards the end of the file, I don't have to page down through the help documentation to get to the code that is actually doing things. If I'm really interested in the help documentation, then I'd prefer to look at the nicely formatted version output by the script (<script> --help or whatever) rather than looking in the actual script code anyway.

Admittedly, this may be more of a subjective personal preference item.