One of the big issues is that the plugs are not polarized so they can be plugged in backwards. So parts of the toaster that shouldn’t be can be live at mains voltage when not running. Electrical hazard. Don’t use forks to pull your toast.

But the asbestos insulation will take care of it easily.

If it’s a really early model, sure.

Toasters of the familiar construction are all similarly dangerous, assuming they are grounded.