Everything I've read points toward larger margins of safety (longer distances, slower speeds) being safer.
See e.g. https://publications.lib.chalmers.se/records/fulltext/252480...
We don't live in an ideal world, and having a bunch of cars merging in front of you definitely makes you less safe than having a static situation. I try to make sure I can see through/around the car in front of me, so that I have advance notice of what's happening down the road.
For example, the specific law in California: https://leginfo.legislature.ca.gov/faces/codes_displaySectio...
Seems like this is the only place where the verge is in the inside.
Obviously fast and slow are just colloquial terms.
Still, I tend to find that people underestimate the danger of short distances. Often it's just better to accept a 100 cars going in front of you than to shrug off following someone at 1.5 seconds. It can go well for years because crashes are rare, but when you are in a crash you will be royally screwed when you don't have the reaction distance needed.
Simply put: follow distance is not a unilateral decision.
I'm still convinced people decide way too soon that the 3 second distance is more dangerous. You might be right if people are constantly cutting in the moment you leave a gap, but if someone cuts in every 5 minutes you're still safer off with the gap.