Yea I'm actually OK with them being risk adverse, because I don't really want to have to worry about the plane I am flying in suddenly dropping out of the sky for any number of reasons.
Is it? Commercial flight isn't that much more dangerous in other developed countries.
Also, the FAA does grandfather in a lot of stuff. If the Cessna 172 was invented today, the FAA would never allow it to carry passengers or get near populated areas.
Lastly, I'm not sure if modern passenger jets would be allowed in the same way if invented today. The FAA would probably restrict them within 100 miles of urban areas. After all, what if people tried to crash them into buildings?
Don't let them know about the Experimental-Amateur Built category where anyone can build an airplane in their garage and a licensed pilot can go fly it with very limited FAA oversight of the construction...