CAT ratings are not safety.
User experience is not safety.
Being an idiot at any moment can end in tears.
Being careful, diligent, and follow training can save your life.
What do I mean by all of these statements? People make mistakes and safety ratings and procedures have been implemented to save you from your human stupidity. Follow check lists, procedures, and using proper equipment will reduce your risk to serious injury quite a bit. Unfortunately, making something idiot proof just produces better idiots. Sometimes luck just grabs you and you become the reason that safety standards get revised.
In the home, CATIII/300V is enough for equipment. The examples posted in this thread so far are outside of the hobbyist's domain. If you are poking things into the kinds of systems that have been demonstrated in this thread, then you have no business doing so unless you are a high voltage industrial electrician. This has nothing to do with home electronics or home electricity.
These images and videos illustrate the extremes of what can happen and perhaps provide caution. People should not just do something without thinking about the possible consequences.
That being said, hobbyists need to understand CAT ratings. IMHO, if you don't understand CAT ratings, no hobbyist should buy a multimeter with less than a CATIII 300V unless they now why they don't need to. Full stop, opinion stated.