Ok. So you think you have the perfect peg. Nothing will break it. It will stoutly resist 100 tons in shear. What will your tenon resist? Or the mortise? Is your peg sizing and placement perfectly balanced to optimize the strength characteristics of the joined members.
Lets not get too carried away with one element of the joint if the others are going to fail at 8% of the breakpoint of the strongest element. But it is fun to kick around these topics from time to time! Cheers.