Happy knew his job was mute point. A completely pointless job. Both Pepper and Tony were never, ever, in any real danger. Sure the kidnappers and the assassins thought they were these big and dangerous opponents that the little secretary and the inventor, billionaire, whatever must be afraid for their lives of. But they weren't. They didn't have claws or fangs, or even weird death around like it was half of their being. All they had were guns and martial arts and sometimes, very rarely they had bombs. Bombs that didn't really effect either of their targets. Pepper would let them shoot her and then she would heal right before their eyes. Sometimes if she was feeling humorous she would show them her true form, letting her flesh melt from her body and show them what lay underneath. Growing into the giantess she truly was right before their very eyes. Half the time she did that they fainted in their fear.
Tony was basically bullet proof. Only when he was in his wolf form of course but he really enjoyed showing his kidnappers what they were really dealing with. They weren't dealing with simple humans, no not just a secretary or a multi billionaire, not even just Ironman, of course Ironman was still a secret. No they were dealing with one angry Norse God, sometimes two if Peppers was with, a God who can become a wolf larger and taller then any other in existence. One who's breath billowed from this mouth in puffs of steam. One who's claws were bigger then the humans hands. And most importantly of all one who didn't give a shit if you were sorry after he transformed. He didn't care what lies they gave or excuses they made to live, because as soon as you threaten one of the siblings you have threatened them all. You are marked at that point, marked to die and Tony is honestly going to be the fastest death you'll receive from any of the siblings. He has issues controlling himself and his strength.
After Afghanistan and the 10 Rings you really can't blame him. He was tortured in those caves longer then any of the siblings wish to remember. So when he flies into a rage, despite how horrified you are at the realization that a massive wolf is about to kill you. Well you should just be happy that it wasn't his brother.
His brother a God with enhanced sense who can keep you alive far past what even the Goddess of the underworld can accomplish. He can hear the faintest sounds. He can tell which bones he's broken, where exactly he's broken them, and he can tell how far he can push you with out you dying. He can keep you alive to make you feel regret for everything you have ever done in your life.
So yes Happy knew very well that his job as a bodyguard was a mute point. The two he was so post to protect didn't need his protection, but they all knew either of them with out a bodyguard would raise red flags all around. So he sighed and shrugged and said 'what the hell, why not'. So when anyone was stupid enough to even attempt to hurt, maim, kill, or kidnap either or both of them. Well he just shrugged and let his siblings deal with them as they please, because let's be honest a massive snake caused more damage then a wolf or a Goddess of death would. The transformation alone cause d damage to the area the growth uncontrollable could easily take out walls.
When Happy was kidnapped for a change, he laughed, because it was kind of funny. They went for the bodyguard, now that was new. Then again after so many failed attacks of any kind people must be assuming it was all Happys doing. It was his job after all to protect the two. No one knew though that more then half the time when things were going down, he found a safe spot in the room pulled out his phone and watched cute cat videos well his siblings did as they please. He rarely if ever did something to help them. Not because he couldn't but because Tony didn't like cats and cats were cute so Happy took this time to watch cute videos of them. It was less that Tony didn't like them and more that cats didn't like Tony, he was a wolf after all. No matter what form he was in the scent of canine would always follow. Cats hated Tony, that was just a fact of life. Dogs on the other hand loved him. Pepper didn't like dogs though. Pepper smelled like death and one too many dogs had attempted to bite her for it. She scared most of them. Most animals hated the three of them. Pepper, Tony, and Happy all of them had much darker feel to them. Matt, and Rhodey didn't have the same issues as the rest.
The kidnappers had probably though Happy was insane, especially when he started laughed at them when he sat with his arms bound behind his back. That was one thing he liked about this form, aposable thumbs, hands, he could pick thing up with unlike with his true form. With his arms behind his back he couldn't pick things up, but that was the normal for him for most of his life, so that was fine. It didn't bother him not having them us able. It didn't prevent him from doing what he was about to. The enemy never stood a chance against his fangs. The venom which dripped in large globs from his fangs sizzled as they melted through the floor. They were dead before the first man even finished raising his gun.
Happy thought about helping out during the next kidnapping of his siblings. The sight of the kidnappers faces as he transformed and killed them faster then they could even shoot was kind of fun. But if he helped then he wouldn't have time to watch cute cat videos. So he probably wouldn't. He'd probably just let his siblings go at. Let them let off some steam after a stressful day.
So yeah Happy knew his job was a mute point, and he was fine that, just meant he could be lazy.