I can generate a set of magic bits on my own computer without any input from a CA, and I'll be able to use them to encrypt a TLS session. What I can't generate on my computer is some trust, which is what I get when I buy a cert from a CA. Also, as a customer of CAs, I have a selection of different companies to choose from, and I base that selection mostly on trustworthiness. It's not so difficult for me to determine which CAs have had the least number of trust-undermining incidents.
To your point of likelihood around CAs being de-trusted, something that happens even less often (as fas as I'm aware), is relying parties claiming on the relying part warranty, so I don't think appealing to likelihood is an especially valid point here.