A well written overview. I think what is sometimes not read well by 'why don't we..' type comments is that the non-deterministic quality of this is quite strong. We can say your predicted risk as an 80 yo is higher than an 8 yo but we can't say much else. So, the 1% mortality and how it distributes over a cohort by age, sex, (ok more men) co-morbidities (ok so overweight, type-2 and pre-diabetic) .. but then we can't really say "oh, you're the high risk for subsequent heart attack" or "yep: you'll face life crippling mental acuity hits" or "we have to amputate now"

Ask anyone if they will take 1 in 100 risk and they will casually say yes. Ask again, if you present them with real risks of life changing outcome at shorter odds, they may reflect.

I wouldn't stand in front of a 1-in-100 russian-roulette machine personally.