Breathing it is totally different. That's partially because when it's cut, fibers are thrown into the air that can cause issues when it goes into your lungs. It's not good to breathe any fibers that don't break down, including fiberglass or asbestos, and think, fiberglass is just inert glass.
Now when laying it up, the fumes may be noxious, but this goes away. I have a 3" diameter carbon fiber tube a few feet away from me. Made by the Air Force for space programs in a research lab, so you know it has some super top secret deadly little green alien poison, but I wouldn't hesitate to sniff or lick it. Okay, maybe I would hesitate, but that's only because I use it to massage my legs.