Aren't we forgetting traffic separation ? When VFR in a control zone here in Denmark (and I guess elsewhere) all you get is traffic information !
As a pax I wouldn't feel comfortable in the back of a 737 with the PF using half of her mental energy trying to spot and avoid two or five C172s in the pattern.
Or am I missing something ?
Yes - you are. A visual approach does not mean VFR. The flight rules don't change, and you can still be IFR, even if the pilot has decided he can approach visually. As such the standard separation rules decided by the airspace still apply.