If your dog was to be subjected to an aversive, would you rather it occurred randomly or control the timing yourself?
I put this question to a rational positive-reinforcement trainer, who responded unhesitatingly that she would prefer to control the timing of the aversive, so as to minimize fallout, and in order to potentially create some practical inhibition.
The logic of her choice hinges on a pair of sensible assumptions. First, that controlling an aversive (even just the timing) naturally lends any competent handler the opportunity to avoid (or at least temper) detrimental associations; second, that the well-timed application of an aversive has potential utility. Of course, she would prefer to avoid aversives altogether, and clearly stated so.
No surprise, given the well-publicized risks. According to the American Veterinary Society of Animal Behavior,
the potential adverse effects of punishment [include] but are not limited to: inhibition of learning, increased fear-related and aggressive behaviors, and injury to animals and people
Moreover, we are warned that risks such as extreme generalized fear and negative associations with the dog’s environment or handler, can occur “regardless of the strength of the punishment.”
This last claim must rest on belief in a dark sort of behavioral homeopathy, whereby the magical effects of punishment  endure despite its infinite dilution.