Oh well, if PADI says it, then it must be true....
I have not read this entire thread so forgive me in advance if I'm repeating something.
Here are two points that I think are central to the issue:
1. What keeps you alive underwater is air, not a scuba regulator. All the regulator does is step pressure down so that it's convenient and easy to breathe. Air can come from a buddy, the surface, or even just the tank. Any diver that does not have access to an alternate source of air is taking a risk. This is dive behavior, NOT GEAR RELATED.
2. The use of the phrase "life support" for scuba regulators is not only wrong, it's specifically used to manipulate sales and service policies. In fact, that's it's only real reason for being. Do you enjoy the idea of perpetuating a fallacy that exists to up-sell gear and control the distribution of parts and service materials?
3. (Okay, a 'bonus' point) If regulators were truly responsible for our lives, there is NO WAY that the scuba service industry could function as is. One would need actual training and government licensing to work on these things, with demanding requirements and peer-reviewed examinations. You know, like doctors and even electricians and plumbers have. Not some BS weekend seminar that nobody fails and anybody who works at a dive shop can take. The hypocrisy is quite something once you get a glimpse at the way the dive gear industry handles this.