The problem with making it okay to just put a "this may or may not kill you" label on products is that more and more companies will do it just to shield themselves from liability regardless of what is in their foods (it's cheaper to add a label and not add an unnecessary ingredient than to add the ingredient and also label your product) so we seem to agree there. When every company has a "this might kill you, but maybe not" label just to cover their asses, large amounts of products are then made off limits to people who don't want to take the risk. When every company is using the "may contain" label as a shield and people start to think "Every company just puts that label on everything even when it's perfectly safe" they will take more chances too.
> Every single person I've ever known that has a severe allergy never "rolls the dice",...I've known people that have mild allergies to products (e.g. symptoms are on the level of lactose intolerance) who don't worry about avoiding trace amounts of allergens.
Again, the problem is that when people with mild allergies to products keep eating them it can cause them to have a severe allergic reaction and that leads to deaths and ER visits. It's not hyperbole, it's fact. Repeated exposure can increase severity and sensitivity and so people who feel safe with trace amounts because they have "always" only had a mild reaction in the past do roll the dice and some of them lose. Those people are also less likely to have epi pens to save them when they finally do run into trouble.
All the people you've known are welcome to keep playing that game, but generally the smart thing is to always avoid foods that you know cause your immune system to react no matter how mildly unless you're doing it under care of a doctor.