It's no different to any other input from a sensor - boost pressure or suspension height for example. All the resistive ladder does is send a specific voltage input to the ECM, which corresponds to an expected function, for example 1V=suspend, 2V=resume etc. a boost pressure sensor does exactly the same, 1V=1Bar, 2V=2Bar etc. the only difference is the boost pressure sensor is a variable output, not a set of fixed (within a % tolerance) values.
I think 'dangerous' is a stretch, given that a simple dab on the brakes or pressing the 'suspend' button will cancel the cruise control function.
The speed value doesn't come from or go through a resistive ladder, it's a composite speed signal broadcast by the ABS on HS-CAN, derived from the individual rpm sensors on each wheel, when the cruise is set to 'on' by a button push on the steering wheel switch pack (which does have a resistive ladder), the current speed value from the ABS is stored as the target speed in the ECM, subsequent pushes of the speed + or speed - buttons will increase or decrease the target speed value in the ECM when the corresponding control voltage is received.