I have no argument with that, all valid points but if you are IFR OCAS and flying merrily along at FL45 in VMC above 6/8 muck it's not a guarentee that Joe Bloggs who is VFR and flying on a regional will not be heading straight for you. As you say, look out should prevent any mishaps but we all know that it can go wrong.
You may be following the spirit of the law but it doesn't mean that everyone else is.