Machining at higher speeds can save time and money. But like driving down the highway, increasing the speed means increasing the inherent risk.
A tool holder rotating at 35,000 rpm poses more danger than the same tool holder rotating at 8,000 rpm, based on kinetic energy alone. If a high-speed operation goes awry, there isn’t much time to act, and typically the part, workholding or machine bears the brunt of the damage, not to mention potential danger to the operator.