Why would it not be relevant to the question? What’s the value of only looking at eliminating the potential risk?
Regulating a technology is not just about eliminating the risks of it but about reducing the risks to some extent while still enabling the upside. the upsides need to be clearly analyses and acknowledged.
Sounds reasonable. However, a better long-term strategy seems to be complete privatization. I.e. to remove the subsidies and tax breaks. I think Brian Caplan would support this strategy (see his book on the education system).