Sometimes the removal of certain scenes from a movie could completely change the way you think about that movie, or completely change the overall tone.
a more serious risk is not having any way to save it or distribute it reliably; works that are too similar to copyright-restricted works tend to disappear into the memory hole on youtube and similar platforms, with no due process and no appeal. for now you can still get hard disks that don't automatically scan their contents against a youtube-style blacklist, and which can retain their contents for more than a few months when turned off because they aren't SSDs, but neither of those is likely to remain practical forever