Danger of Changing Default of log_error_verbosity on MySQL/Percona Server for MySQL 5.7

Changing the default value (3) of log_error_verbosity in MySQL/Percona Server for MySQL 5.7 can have a hidden unintended effect! What does log_error_verbosity do exactly? As per the documentation:
“The log_error_verbosity system variable specifies the verbosity for handling events intended for the error log.“
Basically a value of 1 logs only [Errors]; 2 is 1)+[Warnings]; and 3 […]