No, a lot of government agencies are specifically positioned to not favor money over safety.

Something like the FAA or FDA would never be conducted by the private sector. Because they're money sinks, and knowing how safe something is, is bad, actually. The private sector would much rather be blissfully unaware. Less liability that way.

The only time something like the FDA "fails" is when they give too much plausible deniability to the private sector. Like when they like J&J handle their asbestos BS in the 70s. And then... we got 50 years of asbestos baby powder. Oops! Should've never trusted them.