Indeed, low voltages can cause issues.
One that I’m aware of is fridge compressors. When fed with design voltage, they cycle on and off at a rate predicted by the designers. With reduced voltage, the duty cycle may increase to compensate, leading to overheated bearings.
By the time the engineers arrived my voltage had risen to about 208V, so there is only my word for it having been in the 190s. By the time they were atop the pole switching my supply phase, the ‘Bad’ phase was reading a nearly legitimate 214V. They indicated that whilst the issue would get reported back, it was unlikely to get immediate attention unless other neighbours complained too. I’m undecided whether to go knocking on doors and explaining the risks, not really my job...
May be wrong, but I have always predicted this is the sort of issue that might surface if, say, a couple of folks on the same phase decide to invest in fast EV chargers which, I believe, can suddenly add tens/hundreds of kW to the load?