Differential is very common on bus protection. High impedance bus differential is typically used to protect against an unwanted operation of the bus protection during a close in out of zone fault. In these situations the CTs of the bus protection tend to saturate which can cause the bus differential to trip. The high impedance section of the protection protects against this.
Overcurrent protection is also provided to respect the limits of the bus itself.
A failed breaker should have its own breaker failure protection. The O/C on the bus may or may not trip for a failed breaker but it is not intended to. Either way, in the case of a failed breaker you do want to clear the entire bus, so as long as that happens in an acceptable time frame all is good. O/C on a bus is typically set high, and could very likely be much higher than fault current from say a single phase to ground fault.