There are only select few reasons, why to undervolt a GPU. And i don't see neither of the two listed by you.
If current, as in Amps, then, yes, that is true.
This is true as well, but here is a key difference, low Voltage will damage and kill GPU (any PC hardware in that matter), while low Amperage does not.
PC components work at +12V, +5V or +3.3V.
GPU uses +12V.
Due to this, ATX PSU standard defines acceptable voltage ranges, that all PSUs must adhere to, with as less deviation from the norm as possible;
+12V DC rail - tolerance ±5% ; +11.40V to +12.60V
+5V DC rail - tolerance ±5% ; +4.75V to +5.25V
+3.3V DC rail - tolerance ±5% ; +3.14V to +3.47V
-12V DC rail - tolerance ±10% ; -10.80V to -13.20V
+5V SB rail - tolerance ±5% ; +4.75V to +5.25V
Now, your friend loosing his GPU, due to the low voltage, is most likely due to the issue of the PSU he is using. Crap quality PSUs often output out of spec voltages (too high or too low), that will kill the hardware. Same goes for the very old PSUs as well (performance degraded due to long service life).
This is true as well. And reason why some games make GPU work harder is due to the demands game puts on a GPU. 3D graphic heavy game (e.g FPS shooter), will need more GPU processing power than 2D graphics game, with little movement (e.g Cities: Skylines).
Now, all GPUs have built-in limit, how many Amps they can pull from the GPU. E.g if GPU is rated for 150W, under normal operation, most it pulls from PSU, is 12.5 Amps. (12.5 Amps x 12V = 150W) Now, it is common that GPUs can spike their power consumption for nanoseconds and pull much more power from PSU. E.g GTX 1070, which is 150W GPU, can pull up to 26 Amps, which translates to 312W.
GamersNexus made a nice video about those GPU power spikes:
View: https://www.youtube.com/watch?v=wnRyyCsuHFQ
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What i think is going on, is that your friend has scared you with their talk and now you are looking to fix an issue, which is not an issue at all. Like i said, there are only few reasons why to undervolt a GPU and you don't have neither.
I suggest that you forget the scary talks of your friend and instead use your GPU as normal, like it is intended as.