Looks crap and is dangerous as you are running tyres way out of manufacturer tolerances. People doing this are asking for trouble.
Because when a tyre manufacture makes a size of tyre, they put a recommended wheel rim width this tyre can be fitted on, if it was safe to fit stretch a smaller tyre over a wider rim it would have been included and classified in the tyres sale specifications, it isn't for a reason.
When you go round a corner fast the sidewall bends over and the tyre bead tryes to break away from the rim, forcing the sidewall and thus bead to be angled differently could result in the bea poping out easier.
All tyres are made to a spec, this is a manufacturing tolerance and is there for the end user to adhere to, insurance companies, MOT tests etc also look at them.
They cover rim size, width, speed, tread depth and others.