Actually, it's the other way around.

FAA can only access the CVR in the event of an accident/incident and then only as part of an investigation.

The owner/operator can do whatever they want with whatever part of the airplane they want. After all, they own it. Absent a CBA with language protecting a pilot, the operator has far greater latitude when it comes to a CVR than the Feds.

I'll agree with the OP it is sad that 121.5 can't be kept clear for its intended use: backup ATC link, and aircraft in distress.

A joke once in a while is understandable, such as the unintended transmission. But it has become worse than barrage noise in a military exercise, especially on the east coast.

We're done here.