Well they somehow thought testing and regulations weren’t important as they hampered innovation.Absolutely. The legal framework they set up to prevent lawsuits when things went wrong is almost certainly as badly designed as the submarine was - all they'll have to prove (if there is anything worth suing afterwards) is that they knew or should have known the thing was manifestly unsafe and all those waivers won't matter a damn. The court will find they had no business putting people in it, and that will be that.
How they were allowed to operate under that philosophy are more questions that need answering.