I still feel this is a better approach. It's absurd that consumers have to pay out if they miss a flight or appointment even if it's 2 minutes over the deadline

I still feel this is a better approach. It's absurd that consumers have to pay out if they miss a flight or appointment even if it's 2 minutes over the deadline yet when corporations are late they can just say "oopsie" and get away with it. Incentivizing a buffer time and providing consequences for scammy time estimates is something I would appreciate.