What am I missing that addresses the math?
Take a look at this report on Boeing crash history: http://www.boeing.com/resources/boeingdotcom/company/about_b... In particular, take a look at page 17 (slide 16) which shows the crash rate over time. We have gone from about 40 hull losses per million departures in the 50's to about 0.6 to 1 (depending on how you count) per million departures today.