Quality of Experience (QoE) is a crucial component of adaptive bitrate (ABR) streaming, with the effects of abrupt changes in playback quality or rebuffering, caused by delivery disruptions, being widely studied. However, the collective ABR community has a limited understanding of the effects of changes in playback rate on QoE. In this pioneering work, we investigate two aspects of playback rate fluctuations. In particular, we carry out two subjective studies to assess if a change in playback rate is more or less acceptable than a drop in video quality or a rebuffering event. Furthermore, we examine the effect of the transition in playback rate on QoE, comparing gradual and instant variations. Our subjective studies recruited 120 participants who evaluated 102 test sequences. In summary, we find that playback rate drops of 0.8-0.9 are imperceptible for most content, and rated similarly to a video quality drop to medium level. In contrast, lower playback rates of 0.6-0.7 were perceived as poorly as rebuffering events. Gradual changes in playback rate can offer better QoE, but only in limited cases depending on the content, target playback rate, as well as magnitude of change.