Professional engineers should view this as an insult.
It would interesting to know what inspection elements aren't considered "public safety by the proponents. If you take away things like plumbing, structural, fire safety, etc. you're not left with much. Maybe developers can cut their expenses in half by designing stairs with 20" high steps, or go back to low-efficiency furnaces.
737 Max8 certification.
It's one thing to have an industry-funded-but-independent regulator, such as the TSSA, ESO or even TICO, but I don't support industry self-regulation, actual or de facto, particularly when it involves safety.