There was a time where you could read other peoples' chats using this feature.
As every feature on FB needs to take "View as" into account when handling their own permissions, a lot of developers on FB's payroll get a chance to f'up. We are all humans, so the probability of this happening is very high. The impact (for the users) is also high, given that it's automated and concerns every user on FB equally.
When dealing with a very probable, high impact risk in a software project, considerable additional effort is warranted to mitigate that risk: in this case maybe taint checking and additional implementations of the same feature in different programming paradigms, to ensure the system is fail-stop.
But in contrast to airlines and railways, the interests of FB and their users are not aligned. For Facebook, this risk is not (or was not deemed to be of) high impact, so we did't get any of this.