I generally agree with your points, but people don't die or go to jail because of bad code. With a few exceptions. And in those exceptions there are additional checks (checklists upon checklists, rigorous testing gauntlets) to prevent buggy code from causing safety issues.
Technically underqualified people typically result in missed deadlines and/or poor project velocity. That can be catastrophic for a business model, but it doesn't directly result in any kids growing up without a parent.