I'm sure that an out of spec USB 2 cable can cause damage as well.
But see http://www.computerworld.com/article/3133627/technology-law-...
The really crazy thing is that there's very little reason to build crappy cables. Per unit, your savings from cutting major corners are as close to zero as you can get. Judging by Benson Leung's Surjtech[0] testing woes, even cutting out any QA testing to save money wouldn't be sufficient to explain all of the cable problems. QA testing certainly can't explain how you can completely forget to wire in the SuperSpeed wires despite labeling it as such. That's not the sort of thing to happen as a one-off. Losing your sales channels, facing potential class action lawsuits, and seeing your brand dragged through the mud all add up to far more significant costs.
The biggest problem, IMO, will be when USB-C becomes prevalent enough that we see the $1 cables in checkout lines and gas stations. If there's anywhere we're going to see bad cables being hocked, it's there. Hopefully by that point, manufacturers will have gotten burned enough that good QA will become the norm.
0. http://arstechnica.com/gadgets/2016/02/google-engineer-finds...