First, you have to distinguish between roughing (where the goal is maximum MRR), and finishing (where the goal is a good surface finish). Those are two completely different situations, which require different trade-offs. Chip thinning does not exist at 50% radial engagement, and is a small factor at 25%, and starting to become really significant at 12.5%. Those are all roughing engagements. For a variety of reasons, a smaller engagement, and the higher feedrate it enables, will often allow increased MRR, while putting less stress on the machine and the tool, which increases tool life, which reduces cost. As an example, using a 1/2" HSS 2-flute in 6061, I can slot at something like 15 IPM at 2500 RPM with 1/4" DOC, giving about 1.8 MRR. The same tool at 0.05" engagement, will run 110 IPM at 6000 RPM with 1/2" DOC, giving about 2.75 MRR. At 0.025" engagement it will run 150 IPM at 6000 RPM with almost 1" DOC, giving about 3.7 MRR.
Rubbing is only an issue if you're going WAY too slow for the engagement, or you have a WAY too narrow engagement for the RPM, either of which results in a very low chipload. For finishing, you WANT a narrow engagement, but with enough engagement to avoid rubbing. This usually means a chipload on the order of 0.001",except for very small tools. You don't much care about MRR when finishing, you want whatever speed gives you the best surface finish. That will generally be at a feedrate well below what that narrow engagement would allow for roughing.
If you don't already have it, get a copy of HSMAdvisor (https://hsmadvisor.com/), and learn to use it. It will be the best money you ever spent for your machine.
Regards,
Ray L.