First, if a performance optimization is a reliability regression, it was done wrong. A bounds check is removed because something somewhere else is supposed to already guaratee it won't be violated, not just in a vacuum. If the guarantee stands, removing the extra check makes your program faster and there is no reliability regression whatsoever.
And how does performance improve reliability? Well, a more performant service is harder to overwhelm with a flood of requests.
"Removing an extra check", so there is a check, so the check is not removed?
It does not need to be an explicit check (i.e. a condition checking that your index is not out of bounds). You may structure your code in such a way that it becomes a mathematical impossibility to exceed the bounds. For a dumb trivial example, you have an array of 500 bytes and are accessing it with an 8-bit unsigned index - there's no explicit bounds check, but you can never exceed its bounds, because the index may only be 0-255.
Of course this is a very artificial and almost nonsensical example, but that is how you optimize bounds checks away - you just make it impossible for the bounds to be exceeded through means other than explicitly checking.