I think all exercises are dangerous and should be avoided - they are foolish and a waste of time. Liszt never advocated the playing of scales.
First, I do believe Mr. Wild used the word "scales," when referring to Franz Liszt.
Second, most of the Liszt exercises are no more than an ego trip, which most piano teachers ignore.
Third, Horowitz himself told Harold Schonberg, who was the critic for the New York Times, that he considered Earl Wild's technique superior to his.Finally, I challenge anyone to find any recording made by Earl Wild that does not show total technical mastery of the piano. The proof is in the playing.
As Thomas Mark says: you don't play the piano with the muscles in your fingers. You articulate with your fingers, but you depress the key with the muscles in your lower forearm.
I did a few technical exercises from Liszt's book but I can't say they ever helped me play anything. In the end I had to figure out a lot of things on my own.