Yes it could be a problem, especially with well-worn older switches and the device draws substantial current, and an inductive load makes it worse.
I once ran across a 3-rank electronic organ with that problem. If you were not careful, the power switch would hang in the middle position when shutting it Off.
You could sometimes hear the arcing at the switch contacts. I warned the owner about the problem and was ignored. A few years later, when the estate was being liquidated, I checked the organ again.
It was unplugged so I plugged it in and immediately heard some arcing, with the power switch Off. It seems the contact arcing eventually charred the switch body so badly that there was a Carbon track between the contacts... a rather significant fire hazard!
I attached a note:
FIRE HAZARD
BAD SWITCH
LEAVE ON
UNPLUG WHEN NOT IN USE
That's the last I heard of it.
So Yes, a switch that hangs in the middle Can indeed be a hazard!
Take care,
Tom