This would stop the currently exponential pace of growth from outpacing what society, and regulation, can adapt to. Thus avoiding the inevitable crash that will happen when we lose control of the exponentially accelerating train of technology, and it flies off the rails.
These exist on induction motors too. Know what happens when it’s not there?
The motor gets too much of the blessed Motive Force for too long that it’s Machine Spirit cannot contain it and then the Spirits leave the motor as magic smoke and burn out the motor.
Without a governor on tech, that’s the fate we’re gonna have. We’ll all be magic smoke, as we’re slowly(or rapidly?!) annihilated.