This is completely wrong. When you can properly afford a ship like this then you are making enough profit that even losing the ship all together is trivial I have a fully pimped Python and a t9. I spend a couple of hours in both each evening. I've had the Python blew out from under me lots of times but an hour in the t9 more than recovers the loss.
Your mileage may vary. If I need to trade to support my Python, then that may not a prospect most people look forward to. A Viper can do everything just as well in terms of combat and the rewards scale better with the risks. It's about perception as well. Just because you don't mind, doesn't mean that others feel the same. It's just something worthwhile to consider.
A dumbfire viper can blow away a Python in seconds anyway. The 5M insurance may just be couple hours trading, but that's too high a price possibly for some to have "fun".