The broadhead definitely cuts a hole that reduces drag a lot but there is still some friction even with blood and fluids lubricating the shaft.Even air causes friction.Shoot an arrow in to a swimming pool and it will stop in a much shorter distance than shot through the air.That's friction.
Organs shift,muscles twitch,a multitude of things can apply some friction to the shaft.I've seen plenty of animals with the broadhead through the off side and the fletch hanging out the other side but not reaching the hide.Only the shaft was being held by the animals body.
The shaft has some affect on penetration,however small that affect may be.