I think the claim is that those market events were more extreme than they needed to be.
I don't agree with the claim. What "stabilizing AI" would do (and maybe to an extent has already done) is allow us to take even bigger risks. That is the deeper lesson here.
@smooth, you bring up an interesting point. Like the evolution of brakes in automobiles. Yes, they have enabled cars to stop faster, but overall it has allowed vehicles to increase in operational speed.