No, it’s neither…
Sub-panel was fused by 60A cartridge fuses at main panel, no different than a breaker serving a sub panel.
Wiring from panel to sub-panel was properly grounded and 4 AWG copper wire used. Downstream 30A devices—dryer and water heater—connected properly and grounded with 8 AWG copper wire. (Dryer circuit wiring original to home)
If anything I improved the situation as the fuse block (apparently for many decades) was loaded with those 60A cartridges, but as the circuit prior to my work was only the dryer, whose wiring was for 30A only, it was incorrectly fused. THAT was a [theoretical] problem, though it had been that way for years. Now there are two 30A devices both properly wired and both protected by proper 30A breakers. These breakers are located in a 60A sub panel. This sub panel and it’s wiring protected by 60A fuses in the main panel.
All neutrals, hots, grounds properly connected with the right gauge wires. Everything protected properly. If there’s a short or overload on the water heater or dryer, it’s breaker will trip. If there’s an overload or short on the sub panel, the cartridge fuses will blow—exactly how it’s all supposed to work. Any fault or overload anywhere in this “sub-system” will trip a breaker or blow a fuse. All wire gauges matched to loads.
In the perfect world the entire panel would be replaced. New 200A drops, new 200A panel, new disconnect outside with new meter. New weather head etc. at a cost of $5,000+ The next owner of the home will do that.