Unchecked exceptions are more like a shutdown event, which can be intercepted at any point along the call stack, which is useful and not like a return type.
Debugging. It's one of the most useful tools for narrowing down where an error is coming from and by far the biggest negative of Rust's Result-type error handling in my experience (panics can of course give a callstack but because of the value-based error being most commonly used this often is far away from the actual error).
(it is in principle possible to construct such a stack, potentially with more context, with a Result type, but I don't know of any way to do so that doesn't sacrifice a lot of performance because you're doing all the book-keeping even on caught errors where you don't use that information)
The instrumentation and observability are more heavyweight than the overhead of unwinding the stack which is already keeping track of the most important information (in most mainstream langauges, at least. And even if you don't have a contiguous stack there's usually still the same information around at the point an error is created, assuming that you have something like functions that are returning into other functions. Exceptions, as a model, basically allow the code that raises an error to determine where the error is going to be caught without unwinding and removing the information that lets you track from the top level to where the error was raised). It is still tradeoff, of course (returning errors is more expensive than success), but it's one in a much better place in practice than other options (as obvious by the fact that errors-as-values implementations rarely keep this information around, especially not by default)
