Yeah that makes sense. In aerospace they will fall on the side of accuracy even at the expense of speed. But they also tend to utilize FPGAs that can be designed to handle fixed point calculations quickly but with that comes a lot of cost and specialty hardware.

Another place it makes issues is financial modeling, particularly for complex derivatives where the model might be extremely complex and small errors can accumulate into meaningful errors in risk calculations. Fixed point is sometimes used in finance but performance is also a real concern. There’s a lot you can do to reduce fp errors if your numerical libraries are carefully constructed. But it has often made me wonder why there aren’t processor lines with high performance fixed point since the math is extremely easy - even by just shifting the mantissa and working in integer space then shifting it back.