Lifted or lowered, the same concept applies, and you change your hypotenuse of a right triangle when you do that. If you have a truck at stock height and you lift it 3", your camber will be off. Same applies the other way. That's why camber adjustments exist.
In the terms of coilovers, it's all about the preload. The more preload on the springs via the spring seat, the higher you will be in the suspension setup, which I was at. The less preload, the more "sag" you have and the suspension sits deeper in the setup...more lowered. You might get a low, cushy ride, but you're likely to blow through the travel faster.
You are fixed to the control arm, connected to a solid/forged knuckle. The control arm rotates on an arc, in which your strut body is attached to. If those are fixed, and your hypotenuse changes, the only thing left that can change is the angle. This will roll that arc up and back changing the wear patch that the tire sees, the lower you go. The car will naturally settle in this position based on the lift/lowering height after the preload adjustment. Reduce that angle on the hypotenuse and you're also stressing components more. It's kind of the same theory in crane lifts with straps, you can't go less than X* at the strap angle because the load seen at the connecting points is much more than if that angle is increased (lifting at a 60* angle vs a 30* angle, to the ground horizontal).
Maybe it's not enough to wear some vehicles. I'm sure it has a lot to do with other factors as well but being 1" lowered did not play nice with my car at all. The tread compound was also very soft which heightened the issue.
Yes, toe will/can be off as well, but I would think that would be less of an change when lifting/lowering than camber would be, but it all comes down to the geo of the suspension.