The SRM board knew the legacy system but much less the modern one. Its hard to compare safety when you only clearly understand one systems safeguards.
I appreciate the process being there but at the time it felt much more like (some) people protecting their jobs than the public.
The risks I felt were overblown (iirc) were around likelihood of catastrophic failure in the system.
I actually loved the overall process and it informed how I look at software, it was the application of the process that bothered me.