Yes partially, but it should also be proportional to the public's knowledge too. That is why some products are recalled after a single accident. It isn't that people are destined to die. The problem is instead when people assume the level of risk is low when it is actually moderate. That can be more dangerous than a riskier option in which everyone knows it is risky. For example, a swimming pool is unquestionably more dangerous than a trampoline. However most parents know a swimming pool is dangerous and won't let their kids swim unsupervised. They might not be aware of the dangers of trampolines. That asymmetry in the knowledge of the risks might end up making the trampoline more likely to result in an accident.

The general public thinks vaping is safer than it is. The general public is already very well aware how dangerous smoking is. I therefore think it is perfectly reasonable to be louder in denouncing vaping, especially considering this recent news seems to show it is even riskier than initially thought.