I'm a bit confused, since you are talking about PME and a 'ground rod' in the same breath.Yes, deriving an "Earth" from a Neutral does concern me. Reason for that is experience of Neutral bounces and high currents flowing to the ground rod from the PME "earth".
It's really the possibility of very low impedance routes to earth via extraneous-c-ps which is really the worry in that respect, rather than any 'ground rod' ...
... with a typical domestic TT electrode ('rod') like mine, even in the middle of a very wet spell, you'd be hard pressed to get more than about 5A flowing into it, even if one connected it directly to 230V.
If (as is becoming increasingly common) one's water supply and (if one has one) gas supply arrive in plastic (at least, until just before they enter the building), then I don't think that there is really any need for concern about 'high currents' flowing (anywhere) as a result of a PME CNE fault.
Kind Regards, John