I really do hope all luggage gets inspected /before/ anyone boards the plane.
The majority of checked baggage is screened without the need for a physical bag search.[0]
I'd say the real objection here is that planes are not all that special as a place where people gather. The reason planes (legitimately!) require extra security and concern is that they are flying missiles. (Even the ability to divert a plane is, at a national scale, not really that interesting.) If they aren't flying, they aren't really that interesting of a terrorist target.
It seems much simpler to just find a fanatic that will go down with the plane. (and through his death, it makes it harder to track down the exact people involved in the terrorist network)
Seems much easier to just bribe an airport worker "Hey buddy, I'll give you $5000 if you put this bag of "drugs" on flight 1234"
It clearly isn't "you can do this all the time", because then you would not need to pay the 5000$, or have the risk that that buddy rats you out. I'm not sure I want to be responsible to find the right amount of time.
There is a PPBM requirement for international flights though, including those leaving from the US. While security is the reasoning behind it, I suspect that customs and immigration compliance also play a role.
I think gp's concerns would be addressed by making this transaction legal and letting passengers and airlines arrive at a fair price.