2 hypothetical situations:
Situation 1: A 5-20R wall outlet is extended using an extension cord. The extension cord has a 5-20P plug, but only has a 5-15R outlet.
Situation 2: A 5-15R wall outlet is extended using an extension cord. The extension cord has a 5-15P plug, but only has a 5-20R outlet.
In situation 1, we know that whatever plugs into the extension cord will be safe, because it can only take less than what is available from the wall. We have extra amperage that won't be used.
In situation 2, user could plug in a 5-15P device, and that would be ok, since they would fit and are compatible. But what happens if user plugs in a 5-20P device and that device thinks it can draw 20 amps?
In the 2nd situation, would the device pulling more amps than is available damage the extension cord? Would the device itself be damaged? Or both? Or would nothing happen and the device would not work since it is not getting what it is expecting?