What you're describing is a system where the degree of acceptable failure is determined after the software becomes a product because it is being determined by how important the buyer is. That is backwards and unworkable.
So if you develop your compression library it can't be used by anyone running critical infra unless you stamp it "critical certified", which in turn will make you liable for some quality issues with your software.
That's very realistic and already happens by requiring certain standards from the resulting product. For example, there are security standards and auditing requirements for medical systems, payment systems, cars, planes, etc.