In a Live format, I´d argue, that people probably overfold against Heros range when agressive, but that´s besides the point.
If you decide to flat pre your hand is just to strong to fold against Villains range. Obviously he could play sets this way, but If youre always goint to think he flops a set there your overfolding by a huge margin. So simply put it´s a calldown, to not be exploited. That way you have "bluffcatchers" That way you can start folding with like AXs with middle pair and things like that.
I think raising anywhere here against a known opponent can only be an exploit, as we usually aren´t good when we get 3bet and we´ll also be behind when called quite a bit. If you raised preflop there would be an argument for reraising a donk bet, as a donk just isn´t always stregth, but can often be various semi bluffs like draws or simply bluffs as hero was overfolding before.
As played I agree with a simple call down and "bluffcatch" line.
Though I usually would argue against calling because someone is tight.
Oftentimes that makes Raising even more profitable, as a strong range will call you down when you hit and you can probably keep the pots smaller against a tight opponent when you are actively trying.