I think this came from the original writing of the ANSI standards 1971 when we didn't have as much sophistication in rope technology in our industry. They later added the 11mm exception in the early 2000s. While the rule currently isn't great, it is hard to make a specific enough standard that applies to our industry at large.
I could see the hazards of smaller diameter ropes being something like:
- reduced abrasion resistance
- reduced cutting resistance
- increased likelihood of repetitive motion injury
- climbing tools compatibility concerns
is the hazard big? probably not.