edit: I'm talking about redundant systems. A wood fireplace, for example.
You should have a backup of any form of technology you rely on to maintain your life. We regularly do it with far less critical applications.
So the hardware is solid enough -- it's just up to the thermostat to not drop the ball.
The Nest is so obviously a product designed in warm California—not anywhere that sees truly hard winter. If it were designed well, it would fail safe (furnace on). I'd rather have a hefty heating bill from my furnace running 24/7 than have all of the pipes in my house freeze and break. If I ever install a Nest or other smart thermostat, it will be in parallel to the bimetallic-strip-and-mercury-switch from forty years ago.
In the event the house is too hot, you could open windows, leave, or if it is above freezing outside simply turn off the boiler directly. If it gets too hot while you're asleep, it's not "dangerous": you would wake up sweating. Granted, infants or the infirm may have issues, but in general they face a multitude of dangers that need special consideration or supervision.
What Nest should have really done is include an old-school analog control mechanism as the fail safe (reed switch, magnet, and a bimetallic strip?) that would maintain a safe baseline (say, 50ºF) if the "smart" controller fails.
You're absolutely right that furnaces aren't designed to run 24/7. But your thermostat can request heat 24/7 and unless the furnace control board is broken, it'll the cycle the system as necessary to keep up with the requests.
Most people never learn this because the systems are designed for peak needs and most days don't get anywhere near peak.
I have a hot water boiler. Even when constantly calling for heat, I can hear the element relays click on and off to avoid over-pressuring. The recirculation pump stays on the whole time.
(I'm agreeing with you; just pointing out that my system does cut out under normal operation, while calling for heat.)
It seems like a safety-net would be high-school easy, and at least let them claim they've learnt from their mistakes.