So their current product offering includes a heating element capable of starting a fire but no monitoring or cutoff?
For example, your workshop may be well ventilated during the day and completely closed up at night. All the safety features in the world don't add up to a 100% safe usage experience for any piece of hardware. You don't want your printer doing this for the same reason you don't leave your table saw running when locking up for the night. Technically safe, but unadvisable.
Yes, obviously. But that doesn't mean you should omit basic safety features.
Extremely broad and reliable rule of thumb: hardware safety features > software safety features
The typical disaster on 3D printers is that the print detaches from the bed and sticks to the nozzle instead, which the printer doesn't notice, and so keeps extruding plastic into this obstruction, resulting in the nozzle being encased in a big blob of plastic.
This isn't immediately a fire risk, because the hottest point will still be the nozzle which is temperature-regulated, but due to ongoing mechanical damage you start to risk things like the thermistor and heater wires being damaged, and that can cause havoc.
Prusa recently introduced thermal modelling on their printers which detects heating anomalies like this, because the hotend becoming encased in plastic changes the rate of temperature leakage to the environment, and so the required heater power. The idea is that you can catch the issue at a very early stage.