There are some cases when using handler-bind can be dangerous.
For example, today I've fixed a database deadlock caused by opening a separate transaction in the handler-bind while the main transaction was not rolled back because the stack is not unwound yet. I've been hunting this bug for over a year. It occurred periodically, but I couldn't figure out why.
More on this problem here:
https://www.reddit.com/r/Common_Lisp/comments/1ik77ra/til_right_way_to_handlerbind_unwind_early_if/