True statement but a short in the ckt, should that happen, will pull a whole lot more than 40a. True also that the wiring must be able to carry 40a if you have a 40a breaker and will be using that much current to drive a load.
In my case, my motor pulls the same current as my vacuum cleaner, 12a full load. The difference between them is the start up current. The motor is more beefy than the vacuum and more powerful, thus pulls more current at start up. Sizing the breaker and wiring the same as a 15a/20a household ckt just won't do, the smaller breaker trips before the motor spins up and settles down, reducing it's current draw. Sizing up the breaker to 40a allows the instantaneous current for a longer period of time.
As this will be a dedicated ckt for the motor only, there's no risk of overloading the wiring running other equipment. After the initial inrush of current, the motor settles down, pulling the same current as the vacuum, 12a. Should a short ckt or a locked rotor occur, the current draw will be well above the breaker rating.