You're wrong. The hight of the tyre from the rim makes a significant difference. Regardless of profile, when the tyre is flat, the rim drops straight down, and the sidewalls flex away. In the case of a 60 plus profile, the rim will in effect run on the part of the tyre nearest the rim, and the tread of the tyre, with much of the sidewall outside the actual contact points Because there is less depth of sidewall on a low profile tyre, the rim can actually run on the folded sidewall itself, which leads to rapid delamination. The sidewall just can't take such severe creasing without damage.
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Suspension travel has nothing to do with it. Mike.