It is not exactly the same thing. The commenter you are responding to is looking to avoid overdraft, not having an insurance on overdraft.

I'd agree with the idea of avoiding overdraft entirely unless a customer signs up for it. I don't want transactions I can't afford to go through. I manage my accounts quite closely. For me such situation would be 99% an unintended transaction that I would like to cancel.

By letting such requests go through, banks put the burden on the customers to clean up after a wrong or, in many cases, illegal transaction.

YMMV.