OK, here goes. It used to be common. Flathead Fords were somewhat notorious for this. Family car that never got run hard in 100,000 miles and then some kid would buy it for cheap and start busting things. It was in the days of poorer oil and carburetors ... Carb'd engines have much faster cylinder wear.
All modern FI engines should not have this issue unless the ECU was really buggered ... They very seldom show much wall wear at all. Last engine I ridge reamed was the 283 on the engine stand in the shop. It was a core from a 1966 Chevelle.
The thing about rod stretch needs to be understood. Rods do not separate or stretch under load. So the compression and power stroke are safe enough. But high winding an engine leaves them vulnerable to no-load on each exhaust stroke and inertia will do the dirty work. Piston speed is very high at say 6,000 RPM and that sudden stop at the top of the exhaust stroke will pull the piston and rod as far as the worn rod bearings will let it go plus a smidge of actual stretch. Bingo, the top ring can contact a wear ridge that it has never seen before ...
283's and 327's were vulnerable to this as both had forged steel cranks and kids could cam one, change the valve springs on the heads and go street racing. They never looked into the combustion chamber, so when they tried that stop-light drag and either missed a gear, or over wound the old block and rotating assembly, things would break. Smart back-yard boys would do new rod bearings and that would often keep the piston from going as high ...
If it does contact, it may break the ring, may crack the ring land, or a combination of the two. Then it's all over but the time it takes to actually fail. Sometimes you could catch this as puffs of blue smoke out one exhaust ... Often it was just buzzed one more time and the motor hand grenaded
Been to enough of these parties as a young person, back in the day. Street racing is tough on old cars ...