I learned touch typing on a manual typewriter using Gregg book[0] (summer school prior to freshman year of high school), and seem to recall that the official WPM test involved something like 5 minutes of transcribing a provided text, and nothing you typed after the fifth error counted at all. So obviously a much stricter standard. My best at the end of the class was something like 42 WPM, and I haven't tested it since then, but I do think I'm pretty fast and with good accuracy.
The errors mattered a lot more on a manual typewriter due to time needed to correct (or start over). And of course most typing nowadays is probably to generate original content rather than to transcribe an existing text.
[0]https://archive.org/details/greggtyping191se00rowe/page/n9/m...