Preload is required to minimise end play – as close to zero as possible. Wheel bearings should be tightened until they drag and then released by a fraction (or number) of flats of the securing nut (dependent on thread pitch and nunber of flats, of course). Running tight would overheat the bearing.
I have engines with steel crank and cast iron crankcase and others with sreel crank and aluminium crankcase. Obviously each require a different preload, to take account of thermal expansion at running temperature, to achieve the permitted end-float (always positive, never zero – which might be ideal – because the bearings might be axially loaded).
Consequently, I am not sure how much end thrust most of our spindle bearings would take continuously. My lathe has ball thrusts either side of the drive pulleys and they have survived for about 50 years of hobby use. Never yet seen any that have failed (given sensible treatment – lube and setting up an cleanliness).