Accidents will happen very rarely (thank God) regardless of the experience in the cockpit. Setting the bar high is merely to weed people out. It is not entirely based on the relationship between experience and hours.

Lets face it, flying an airplane isn't that difficult. I believe it has more to do with innate personality and coolness under pressure than much anything else.

That being said, still set the entry requirements high. Those who want it will figure out a way and those who don't/can't won't. The less pilots trying to live the dream, the better for all.