But using this same logic doesn't this mean that you really don't need a back-up at all since even if the thermostat is stuck open it cannot push enough current to cause an issue?
A Rheostat by design lowers the amount of power getting through it...so if it blocks 10% then is blocks 10% of 1000watts or 10watts - the difference is still huge. This is the same reason why the actual temp in the tub fluctuates with the ambient temp of the room when using a rheostat cause it cannot compensate for increase or decreases in temp.