OK, we'll start with some assumptions. Let's say that you have a 3/8 square HSS bit ground to the 60 deg of a UN thread. Xero radius on the tip. Now, what happens if you set up a thread, let's call it a 2 1/4 - 8 for the sake of this discussion. You can start cutting, moving your threading tool deeper and deeper. Thread depth for that thread is 0.0677. What will happen if we go deeper than that? At some point, the crest of the thread will start becoming more narrow, and more narrow, until it becomes sharp. After this point, the OD of the thread will begin to shrink as you thread. That's because you are making an ever wider thread, or trying to, but the material is not there because the 8 pitch is forcing the tool to cut wider than the 0.125 you have to work with. You will still end up with an 8 pitch thread, but the OD will be small. Eventually, it could be a 1"-8, with awfully sharp crests. Thread crests should not be sharp, so if you were to make a 1"-8, then top the threads, the OD would probably be too small.