Bottom line, reducing available runway ahead of you on purpose increases the risk on departure...
The V1 is worked out to enable a stop before the runway end. No person in their right mind stops after V1 so the end result is the same. Reduced thrust takeoff, before V1 you are not putting your life at risk. However, you are saving engine life which means you are less likely to have an engine failure elsewhere. I am sure that that is the REAL "bottom line".
AD