If you fill your take up and forget to plug that line, it will at least drain your tank to the level of the inlet tube and if you get a good siphon going there, it'll drain your whole tank. But, not to worry, at least it won't be on take off. It'll probably wait until you are going up wind at 10 feet of altitude, right over the runway.
Fighterpilot:
You can't get a good siphon going if you don't use an extra clunk.