One major reason for having an AIO pump run full speed all the time is that it needs to run at some CONSTANT speed all the time. In such a system, TWO factors affect how fast heat is removed from the CPU - the speed of the PUMP that moves heat to the rad, and the speed of the FANS that move the heat from the rad liquid into exhausting air. If you try to have BOTH of those factors changed automatically in response to CPU temperature, they "chase" each other. That is, one cools the CPU down a bit too much and then both of them try to slow down and overdo it but with different response times, then temperature starts to change and both items also change, one out-doing the other again, and it becomes a MESS! The simple solution is that ONLY the FANS respond to CPU temperature, and the PUMP only guarantees a fixed rate of transport of warmed liquid.
In such a system, MOST of the time the rate of fluid flow around the loop is MORE than is needed. In that situation setting the Pump to run slower has no big impact as long as you set the pump speed and LEAVE it there. The fans will compensate by speeding up slightly. The real impact of fixed LOWER-than-spec pump speed is when you get to max workloads and heat generation. Then it is possible that the fans running at max speed can not remove the heat fast enough because the heat is not being carried to the rad fast enough. If you are confident this effect is NOT going to limit your cooling system at max workloads, a slower-than-full-speed setting on the pump does no harm, and may prolong the pump life a little.