I was a Private Pilot student some 20+ years ago and I was surprised to read this so I investigated. It's still 40 hours for PP but 30 for Recreational. That really surprised me.
I stopped my training when I had just short of 40 hours. The only required procedure I hadn't completed yet was the night flight time. But no way would I have felt comfortable flying passengers at 30 hours. Hell, it was around that time that I ran into problems both with an engine refusing to shut off on the ground (student using the airplane after me didn't read my notation in the log and broke the throttle cable trying to shut the engine off), and on another airplane, the engine hesitating when I throttled back up during a stall recovery.
Minor details, but it's coming across stuff like this and learning to deal with it that makes the extra flying hours valuable.
Like the GP, I'm generally against regulation, but I agree that the FAA seems too lax in this case.