You should treat it like that if someone's life does depend on it and you have the resources to develop accordingly.
If you're developing something like, say, bingo software, you're probably better off devoting time to improving the product or marketing it, rather than working on it being 100% bug free.
It's all a tradeoff - time spent on eliminating every last little bug is time not spent on adding features or making it faster or marketing it or whatever.
Edit somewhat less clear-cut cases might be bits of software that you release publicly, and subsequently get used for life-critical systems. However, in that case, the onus is on those adapting the code for use in that environment to provide the testing/review/etc... rather than blaming the upstream developer.