Other than the part about having enough money to build a bunker in New Zealand, I'd say "yes".
Normal people suck and are generally dumb as a brick (including me). Normal people don't extrapolate calamities and don't think ten steps ahead.
It's still the case for bolt- and lever-action rifles and similar stuff.
It's insurance. For someone with an average income, it's not worth the cost of the .01% chance you'll need it. For someone with more money than they know what to do with, it's worth it.