I suppose it has to be said that supply voltage gradually increasing, eventually to a worryingly high level must be an extremely unusual event and, off the top of my head, I can't really think what would/could cause that to happen (unless simply progressive fall in demand).It depends how quickly, it increases. Many years ago, we had our supply go up to 260v, it was obvious from the tungsten lamps, the voltage had gone up. I was able to simply switch things off, to protect them, then ring the DNO. I have nothing like that now, which would respond to slight over voltage, but a 'voltage alarm' might be handy. Nothing would be damaged, by under voltage.
Mind you, as you said,the ubiquitous SMPSUs are very tolerant to a wide range of input voltages, and I strongly suspects that remains the case for voltages well above what the manufacturer states as the 'maximum'.



