I'm not concerned at all about having more money later in retirement. I am aiming for a relatively low FIRE number at a reasonably conservative withdrawal rate, location arbitrage and occasional side gigs in retirement, so having more money later on means more options such as:
-renting a bigger and better apartment/house in a better neighborhood,
-buying a property,
-not having to rely on location arbitrage at all or choosing to live in a more expensive country and city,
-doing side gigs only if I'm really bored,
-more travel,
-financially supporting my relatives,
-charity,
-more expensive, private retirement home when I can't take care of myself,
..the list goes on
One thing to note is that, same as portfolio failure, portfolio outperformance doesn't happen suddenly. You don't just wake up one morning and realize that you have either saved too much or too little. You watch and re-evaluate your portfolio regularly and adjust your plans and lifestyle accordingly. If there is a higher risk of portfolio failure, you can either cut your expenses or make some extra money or both. If you have a lot more money than you need, you can always adjust your expenses upwards. Having more money than you need is a great problem to have. I have a lot of solutions in mind.