Incorrect. A for profit company tends to maximize profits. Making safety critical systems as cheap as possible isn't the way to do that, and most people in the business know that. A parachute company that skimps on safety to make the cheapest parachute doesn't stay in business long.
In the automobile business, safety is good business.
This is true in many industries. We are talking about stupid here. Uber getting off of the hook for murder in the road with sub standard equipment and backup driver. Tesla with the sensors that couldn't recognize a large truck and killing the driver watching Looney Tunes. In a perfect world you would be correct. This is no ware near a perfect world. The corporations want to make money and they are not going through the effort of making sure there equipment is good enough.