> I don't understand how we can reason with "probabilities of failure" about such fundamental things such as laws of physics.
A sketch: Suppose we have two theories, one ("A") with assumptions (a, b); the other ("B") with assumptions (a, p, q, r, s, t); and our evidence 'e'.
Pr(A) ~= Pr(a|e) * Pr(b|e)
Pr(B) ~= Pr(a|e) * Pr(p|e) * Pr(q|e) * Pr(r|e) * Pr(s|e) * Pr(t|e)
That is, the probability of each theory being right is the probability that each of its assumptions are simultaneously true. It might be difficult to come up with a specific number for each of those component terms, but we'd do well to estimate the total probability of each theory simply by counting the terms, since in the limit that will matter more than the probability of each term (assuming we think none of them are obviously low).
Also note that when counting, we can trivially factor out the common assumptions "a" (a.k.a. the things we don't wish to doubt or vary between theories, e.g. QM in "ordinary" regimes, GR, the Newtonian approximation to GR, etc.)
Yes, there is a "ground truth" theory which is absolutely true or false, but we don't have access to it. And I don't see how it's more problematic to use probability here than on any other classical event on which we have imperfect information, like a specific dice roll, or a baseball game, or the outcome of an election— One specific thing will happen, and no other outcome was possible, but we can still use probability to model our incomplete knowledge. How is physics different?
Example stress tests of this idea:
e = the motion of the planets; A := "G = m1*m2/r^2"; B := [long list of epicycle parameters] --> pick "A".
e = the varied appearance/adaptations of animals/species; A := [reproduction, inheritance, variation, selection]; B := foreach animal x {"God zotted $x into existence like that because just_so_story($x)" --> pick "A".
e = my empty garage; A := "there's nothing in it"; B := "there's a dragon in it; the dragon is invisible; the dragon dodges your touch; the dragon has no heat signature; the dragon floats and leaves no footprints; ..." --> pick "A".
e = the behavior of the universe; A := [the standard model]; B := [the standard model; also it's a simulation; there are intelligent beings who set up the simulation; there is an external universe in which the simulation is occurring; the number of simulations happening in this universe is large; ...] --> pick "A".