We want rule-of-law, and in the US, people should have an absolute right to bare arms, as in the second amendment. Free market forces can then determine appropriate prices, insurance, and protective measures to make sure those guns are managed safely.
If I want an F35 and an Abrams, that's okay, so long as Lockheed and General Dynamics are willing to sign off (with full liability for damages) that I'm managing them safely.
Free markets work pretty well with:
a) Full transparency, as needed for rational decision-making
b) No way to externalize costs