Not entirely wrong. You're proof that people have the expectation that products are being well regulated. I think most people do assume this, even if they can't name a law or regulatory authority that would do so.

In a way, we're getting the worst of both worlds. The lack of oversight from an unregulated environment with the consumer complacency of a regulated one. If we could downplay the amount of oversight on products, people might be more skeptical as consumers. Putting analytical technology or services in the hands of consumers would be even better.