A rocket might have a factor of safety of around 1.1. This is because at 1.3, they’ll never leave the ground. This is why they are so carefully monitored and tested, and still fail.
It’s all relative. Good engineering doesn’t mean higher number.
No one knows what the FOS for this sub was. Given the information from the CEO, things like that were just slowing down innovation!
EDIT: Not all rockets, just using an example.