Calculus instructors are mostly very careful to explain that $\frac{\mathrm{d}y}{\mathrm{d}x}$ is not a fraction, and multiplying both sides of an equation by $\mathrm{d}x$ is nonsense, wrong, or evil.
However, I really want to be able to say that "$y$ is the sum of all the little pieces of $y$," i.e. that $y = \int \mathrm{d}y$. And I'd really like to say that when I integrate $\frac{\mathrm{d}y}{\mathrm{d}x} \mathrm{d}x$, it's the same as integrating $\mathrm{d}y$. And when I separate variables, I really like splitting up the $\frac{\mathrm{d}y}{\mathrm{d}x}$.
This comes to the question: what is a good example of the harm that we will cause if we allow students to think $\frac{\mathrm{d}y}{\mathrm{d}x}$ is a fraction? Are we worried that students will think that $\mathrm{d}y$ and $\mathrm{d}x$ are numbers?