Whether Vr, or the edge of the runway, arrives first will then be in the lap of the Gods, but a trip to the weeds seems to me to be a reasonable description of what may happen next!
The problem is associated with the nature of the departure. Based on the few aircraft with which I have had a Vmcg involvement, the deviation is fine down to a speed a few knots above Vmcg.. in the last few knots the deviation escalates markedly and rapidly becomes uncontrollable. If you are a knot or two below the real world Vmcg you probably will be OK due to CG and a bit of NWS capability as the rudder is deflected. However,
(a) if the delta is significant, and
(b) given that the average pilot, not having had any training exposure to the environment, will be caught a bit unawares
(c) the typical airline pilot is programmed to "go" at V1 ..
the expectation is that the weeds are the likely outcome.
I started to take a training interest in this while doing some contract work for an operator which routinely made use of high overspeed takeoff schedules .. while permitting one routine ferry sector to be done with min speed schedule. I used several guinea pigs in the sim to see what sort of comfort the guys had .. and it wasn't much. However .. after a few practice runs, the message was driven home.
Is this something over which you should go to bed at night in a lather of sweat ? .. of course not.
The point is, this usually is an easy risk to mitigate ... if you are aware of the problem in the first place.