Originally Posted by gerv
If they get loose for any reason, can have a devastating effect on your wheel.
Same for sticks or stones, shoelaces, panniers or things dangling from panniers, water bottles of pumps, or anything else on the bike if not used/mounted properly.
That's why bungees have hooks and tension.
It doesn't take a rocket scientist to figure out how to use 'em correctly or inspect for serviceability.