The risk isn't usually the device you connect a bad cable to (they have internal limiters), it's the cable itself. You can easily overload a cable if the extension cord can't signal the lower limit if it's own rating and the other cable's rating.
The USB 2 part is also misleading.
That's just rephrasing what I said. You can plug in too much for a single extension cord even if there's no chaining. A chain "just" increase the risk.