Writing "produced on equipment that also processes peanuts" on a food label is hardly inconveniencing others.

It's still very much on the parents to prevent harm to their peanut-allergic children.

As an aside, the sharp rise in nut allergies is itself an unintended consequence of another well-meaning attempt at social engineering: about 30 years ago, manufacturers began printing "CHOKING HAZARD: DO NOT FEED NUTS TO CHILDREN UNDER TWO YEARS OLD" on nut labels. Many parents complied, and that lack of any early exposure to nut proteins resulted in a massive increase in life-threatening nut allergies among children.