It has been said before that flying 50 and 60 year old aircraft, containing a fair proportion of 50 and 60 year old parts, all of which were designed and produced under the pressures and urgency of war would still have inherent risk even if the human flying it was 100% infallible. Warbirds and the like have come to grief for many reasons including lurking limits of WW2 metallurgy. The realities of displaying Warbirds dynamically will always carry a higher degree of risk than most other forms of flight.
It has been a tragic three days. Good and very capable men have lost their lives, despite all the attention that has been given in recent years to improving safety at airshows. The emphasis seems to be rightly placed on protecting the public. This presumes, also rightly in my opinion, that those who own and fly the aircraft understand and are prepared to accept the risk.
It comes back to the question asked earlier, “is it worth the risk?” I believe the people who own and fly the aircraft get even more pleasure out of doing so than us humble mortals who have only the pleasure of watching and listening to them. I am not a display pilot, but I would hate to have that freedom regulated away from me.