You sort of have it.

Lower tire profile will tend to squirm less, roll over less and chunck less. However, it will have less life.

It all depends on what level traction you have, track surface and driving ability.

I have been known to run my tires until the glue and wheel show through. One Main I noticed that my rear was sliding a bit about 3/4 into the 8 minutes, the tires were completely worn away down to the glue. Fortunately I had a good lead at the time and finished in first but it was an interesting race.