No; the author made a number of reasoning errors throughout the article.
"""Underwriters Laboratories modified its marking requirements for hair dryers after the CPSC brought to UL's attention reports of injuries and deaths attributed to consumer misuse of hair dryers. Under the modified requirements, hair dryers must be permanently. marked "Danqer-- Electrocution possible if used or dropped in tub. Unplug after using." A tag with warning instructions also is required by UL to be attached to the power supply cord."""
TL;DR insurance underwriters observed enough deaths that they believed it was wise to change a product's markings to avoid having to pay out as much money.