Yep, and that is generally also why IT is the way it currently is. Most projects aren't all that complex (in business logic terms), it's mostly CRUD interfaces and a fancy viewer for the end users anyway. But industries that are still on mainframes are almost completely the opposite where every single element is tagged, catalogued, tested, described and traceable at any point in time. With a price, rigidity and lead time to match, of course.
On one hand we don't all want to buy mainframes, on the other hand, doing it as cheap and unmeasured as possible makes everything flakey, demanding on individuals to keep it running, insecure, and opaque to everyone involved. Too bad there isn't really any middle ground, it's almost like it's either "pretend to be a mainframe" or "do it as cheap as possible".
Regarding the aviation analogy: it definitely doesn't become cheaper due to regulation (it did become cheaper due to subsidies), but I'd rather have a system that's regulated (or forced) into safety than having it be optional and left to a sociopath (i.e. a for-profit publicly traded company - all the benefits of pretending to be a person but none of the responsibilities or limits to govern it - except the law and regulation).