Some of both. Even if one were to postulate a pilot rating organization other than the faa, let's not pretend it wouldn't be just as captured by the various pi

Some of both. Even if one were to postulate a pilot rating organization other than the faa, let's not pretend it wouldn't be just as captured by the various pilots as the credit-rating agencies were captured by the banks whose products they rated. But again, we have a system with an astounding track record of safety and great prices too. It's what we use for commercial airlines.