Just like everybody else, Lauda has some good points and some bad points. It is important to remember though that driving race cars was significantly more dangerous decades ago than it is today. Furthermore, the drivers had fewer rules, and fewer sanctions for breaking those rules. Lauda, Hunt, Andretti...all the way down to the drivers that tended to finish last, the whole lot of them had great big balls. They knew that each time they strapped themselves into the car, that death was a distinct possibility. Lauda of course was a champion of driver safety before and after his legendary crash. That crash and his quick return exemplify the racers' attitude of staring death in the face and getting on with it. It is from this perspective from which he speaks. I do think his point is a good one, even if I am not so sure I agree with him on this.
I am not into watching people die, and I would prefer that drivers not get killed for my entertainment. Of course I do like tight very competitive racing, and don't mind seeing drivers DNF because they pushed too hard and put themselves into a wall. I wish that the FIA would increase the mass of the cars, and bolster the driver safety requirements as much as possible, then take the cuffs off of the driving rules. Perhaps eliminate a few runoff areas and put walls where walls used to be.