That’s an idea I would have supported when I was taking high school physics. My astronomy calculations I put to the nearest centimetre (something like 20 significant digits sometimes) for no good reason. Just writing down all the numbers from the calculator.
Then I took engineering and grew out of it. Sure some crucial parts need very tight tolerancing, but you also have to have it relative to the size of the part. And if your design is bad, better tolerancing isn’t going to save you from stuff like the steering wheel popping out.