The need for current control is an important need. The amount of current an ATX can pump out can be a real danger.
Less than a month ago (26 days ago), I almost had a fire and I was very lucky.
This (attached photo) SATA power plug came off a molex splitter with a FAN plug and an SATA power connector on the other. The SATA connector always had intermittent connection problem. I only needed the FAN connector so I just taped over the sick SATA connector to prevent its use. Since I was not using the SATA connector, I saw no point in doing more to this sick connector.
I was very lucky. This PC is only use for backup activity and it rarely has the lid on so I can easily connect the source and backup drives being done. Normally, I leave the room after the backup is properly started. This time, I was in the room doing some other stuff.
Shortly after power up, I notices some smoke coming up between the tables. I looked and saw orange color flickers size of an almond nut coming from the open-lit PC. In the short time of getting up from my chair and looked, the orange flickers already turned into an orange light ball size of a lemon and choking smoke already begin to fill the room. I pulled the power cable to the PC and found this SATA connector at the flickering spot...
Looking at the picture, it looks like it was the 12V ground wire shorting to the the 12V+. There is so much current the ATX PS can pump out it started to spark (or heat the shorting area) and fire was starting. Good that I was there to pull the plug before the fire spread.
That molex connector and PC are still in use. I still need the FAN, but the bad SATA connector was cut and the wires properly isolated with heat-shrink shielding. There was no other damage.
Edit: added "(or heat the shorting area)"