One of the main concepts of Data Vault modeling is the separation of Business Keys, Satellites for detail data and Links to connect Hubs.
Example
Employee
--------
Personnel Number
Name
Surname
Street
City
Department
--------
ID
Shortcode
Name
Employee Number
Imagine that one department only has one employee.
Business Keys
Now the business identifiers for the business objects Employee and Department need to be identified. This would be Personnel Number for the Employee and Shortcode for Department.
Why not ID for Department? Well, the ID is most probably a database internal ID. The shortcode is in this example something like DEP_A1613
, which is also internally used to identify the department.
Modelling
The hub for Employee consists only of the field Personnel Number and the hub for Department only of Shortcode.
This means the Hub in Data Vault modelling is for storing the business key only. Of course, Data Vault fields like Record Source, Load Date and other are needed as well. Both Hubs would also have corresponding Satellites for the describing data. It would be a violation of the Data Vault modeling technique to link Satellites together without Hubs. It wouldn't make sense, either: you need some kind of common identifier for your Satellite data which wouldn't be there if you would omit the Hub.
Conclusion
So to answer your question: You should model Hubs for business keys. Absolutely. Hubs are in fact an essential element of Data Vault modeling. Links are only connected to Hubs, not to Satellites.
Imagine a change in the Employee software. All other fields are now stored in the Employee satellite. When using a new source Employee software you could store all data in a new satellite whilst using the same Hub and business key.
Just to complete this example: the link would connect Employee and Department from Department with Employee Number.
EDIT
So for example the structure would look like this. Data Vault specific fields are marked with [DV]:
Hub Employee
------------
Employee Hash Key [DV]
Load Date [DV]
Record Source [DV]
Personnel Number
Sat Employee
------------
Employee Hash Key [DV]
Load Date [DV]
Load End Date [DV]
Record Source [DV]
Hash Diff [DV]
Name
Surname
Street
City
Link Employee Department
------------------------
Employee Department Hash Key [DV]
Employee Hash Key [DV]
Department Hash Key [DV]
Hub Department
--------------
Department Hash Key [DV]
Load Date [DV]
Record Source [DV]
Shortcode
Sat Department
--------------
Department Hash Key [DV]
Load Date [DV]
Load End Date [DV]
Record Source [DV]
Hash Diff [DV]
ID
Name