Mike, I kinda think of them as similar to old saws without guards. They certainly aren’t as safe, and if it goes bad it goes bad quick. I think a lot of folks (although probably less of the folks here) don’t realize how fast things happen when they go bad. There’s no stopping it. That said, all of life is a game of choices and chances. I have a carbide cutter like that one, but mount the blank in a vise and the cutter in a drill. With the mandrill in place it keeps it square if it’s all fit right. But I see the issue with quickly holding everything in your hands and trying to make it work. I’ve done it, and had it catch and throw, but didn’t get hurt. I guess my short answer is, you’re right, any exposed spinning cutting edge is a danger…what we do with that is another story. 

Ryan/// ~sigh~ I blew up another bowl. Moke told me "I made the inside bigger than the outside".