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I had a feeling that might be the case. Seems silly to have something where the width relies on compressible spacers. Torque it up a little on the high side and let's say it tightens 1/8th turn too far on both sides, it'll go around 0.25mm too narrow and knock side to side. Don't torque it up enough and it'll probably put too much side load on the bearings when the cranks are tightened up.
I have a Race Face bottom bracket like the one pictured - the one 'notorious' for not lasting very long in all the reviews. It's in a 68mm shell so it has all three spacers fitted. When first fitted it was a snug fit on the crank axle with no play. It hasn't knocked the bearings out, but the axle has some side-to-side float now it's been in a few frames. I'm speculating the plastic spacers have compressed slightly. Is this normal for these types of bottom brackets? I'm thinking it needs shimming or something to take out the gap.