Mulling over e.g. https://wiki.c2.com/?DontUseExceptionsForFlowControl it seems to me that “Don't Use Exceptions for Unexceptional Flow Control” would be a better motto.

The main argument is just readability — can the reader understand code?

Nearly the last word on the page — “I use exceptions when the preconditions are met, but I can't meet the postconditions” seems like a good motto for when to use exceptions.