Actually, there are parts of the safety certification process that investigate a failure of the basic safeguards. One is to investigate what happens when a user accessible fuse is bypassed with a non-fusible link. There are limits as to fire, short circuit currents, duration for additional safeguards to protect for user safety. Some amps will have a back-up fuse inside the amp that will open if the primary external fuse fails to operate. Sometimes, we will include thermal links and fuses inside the transformer itself or for the transformer to be totally enclosed. Sometimes, this may govern what minimum size power supply is needed or required to be shipped with (to insure that it doesn't overheat or the IEC connections don't break down). It depends on the type of power supply too.
All it takes is to see one catastrophic failure to appreciate why there are safety standards, and why we see so few electrical injuries from electronics here in the states, Canada and in the EU.