12vhpwr has almost no safety margin. Any minor problem with it rapidly becomes major. 600W is scary, with reports of 800W spikes. 12V2x6 is particularly problematic because any imbalance, such as a bad connection of a single pin, will quickly push things over spec. For example, at 600W, 8.3A are carried on each pin in the connector. Molex Micro-Fit 3.0 connectors are typically rated to 8.5A -- That's almost no margin…
It's been interesting to think that we're probably been dealing with poor connections on the older Molex connectors for years, but because of the ample margins, it was never an issue. Now with the high power spec, the underlying issues with the connectors in general are a problem. While use of sense pins sorta helps, I think the overall mechanism used to make an electrical connection - which hasn't changed much in 30+ years - is probably due for a complete rethink. That will make connectors more expensive no doubt, but much of the ATX spec and surrounding ecosystem was never designed for "expansion" cards pushing 600-800w.
[1] - 12VHPWR failures (2023) https://youtu.be/yvSetyi9vj8?t=1479 [2] - Current issues: https://www.youtube.com/watch?v=kb5YzMoVQyw