Yeah, we should ban this for their own safety! Along with the TT, show jumping, mountain climbing, marathon running, the Dakar rally, the round the world yacht race, base jumping etc. etc. etc.
It’s all about risk and reward. And at the end of the day, better that the event is risk mitigated as much as possible in a more formal atmosphere than the alternative.
We remove as much risk from our world as we can and wrap much up in cotton wool, but at the end of the day life threatening situations are what make some people feel alive. These were the people that went and had a look what was in the next valley as stoneage men, or went to space with no idea what the consequences would be. These events are the modern equivalent.