Lightning cables have exposed contacts - While at 5V, this does not pose a significant shock risk, if full current were available, brushing the connector against metal could result in sparks and damage to the connector or power supply. Additionally, if the connector gets wet, the DC voltage will result in electrolytic corrosion. This still does happen even with the limited current provided before the handshake, just slower. (Don't!!!) try charging a phone with official cables and a power bank in the rain or letting a plugged in lighting cord's lightning end sit in some soup
Cables with electronics in them are useful for protections like this, and to facilitate safe interoperability of multiple voltage and current sources and sinks like on USB Type-C. The question becomes, is the protocol implemented in a simple, open consumer friendly way or is it implemented with other nasty antifeatures.