PVC is a hot button many places. There are probably at least a zillion discussions here about it that you can find with a search.
The short answer is PVC is not ductile, like copper or steel - when it's damaged it breaks into pieces, unlike metal that bends. If a PVC pipe is damaged or breaks when it's full of water, the worst that happens is the water squirts out. If it's damaged when it's full of compressed air, the rapidly expanding air will blow broken bits of PVC all over, like shrapnel.
The pressure rating for PVC is for use with noncompressible liquids, not compressible gases, and if you look at the manufacturer's specifications they'll specifically warn against its use for gases.
I've personally seen PVC fail, and yes there were sharp bits of plastic stuck in the walls. Many people have used it without issues, but they've been lucky. It's essentially a bomb waiting to go off.