There's a huge difference in security between a cryptographic-strength guarantee enforced by reliable technical mechanisms and the security provided by a civil law contract enforced by an audit regime. Also, note that the world's true Relying Parties (i.e., every web user and server operator who could potentially be MITM'd by this private key) are usually not formally acknowledged as parties to these contracts and as such have no say in their creation or even knowledge of their existence.