Believe your thinking is correct re the spacing to allow for a thicker bond, and I'm Aluminium so it would not be a rust/corrosion issue should moisture penetrate, but to me they are both flawed idea's.
With the range of modern
adhesive sealants and if the
teak rails are prepared correctly driving back the
oil in the timber with the use of primers/accelerators designed for this then no issues,
Teak decks seldom use fasteners these days and are glued direct to the substrate with just weights to hold in place, Built a lot of
steel vessels in my time but have never seen that before,
Cheers Steve