Without lubrication, even the fastest, most accurate, most elegantly designed assembly system will literally grind to a halt. Lubrication does more than just reduce friction between moving parts. It also prevents corrosion, dissipates heat, and keeps mechanisms free of contamination.
Automated assembly systems are alive with robots, linear actuators and cam-driven mechanisms moving up and down and side to side at high speeds. An unfortunate byproduct of all that starting and stopping is vibration, and the Beach Boys to the contrary, there's nothing good about it.