1.) Technically, airplanes are owned (sometimes) by airlines, which are, mostly, public companies. Very few are privately owned.
2.) Yeah, as long as airlines are bailed out again and again by taxpayers.
3.) Airline business is heavily regulated for several reasons.
4.) Bracelet lovers should move to Iran.
The Airlines aren't owned by the government. So we shouldn't be able to just blatantly tell them what they can or can't do.
Bail outs are an entirely different issue.
I personally wouldn't wear one nor patronize any airline that demanded that I do. However, I, unlike you, am not a socialist. It is not my right to tell a company what they can or can not do when it comes to their safety procedures.
I can choose not to buy their tickets. And if enough people also do the same, they will either have to choose to get rid of the bracelets to sell more tickets, or they will have to fold.
But I'll be Golly-geened if I'm going to let socialists believe they are allowed to dictate other people's rules.