Important to note that the Fangio defense doesn’t necessarily play in a two-high shell, the signature of his defense is to be in one pre-snap. The safety that rotates down for cover 1 or cover 3 has the advantage of playing from depth and seeing the play develop in front of them, and that puts them in a better position to disrupt a lot of dig routes and crossing routes that have been a headache for our defense in recent years.
It’s also advantageous against teams that want to run a lot of play action, because the QB will see one thing pre-snap and then see something completely different when he turns his eyes back downfield.