[throwawayx134ax]

The increased risk people are talking about have been demonstrated in the form of crashed airliners.

The entire rubric of reporting deviations early and often was developed as it was identified as a major cause of crashes in the 60s, 70s, 80s and 90s.

Per this particular incident: It is a big deal the FO screwed up. It's a bigger deal that the screwup was not reported, as it's an indication that the culture of the airline is more concerned with reputation than keeping everyone alive.