Four engines over two is a great idea if its an engine problem. If its about pretty much anything else, I would rather be in the two holer. Different levels of safety are accepted for the same mission. A fire in the hold is a fire in the hold, no matter if it occurs over top a suitable airport or over the middle of the Pacific, it needs to be fought/supressed. Why would we argue that the non etops aircraft should have less protection than etops if they fly over the same stretch of water?