Unless you are suggesting the UL is testing herbals, and the industry is listening to them regarding the results I'm pretty sure you don't have a relevant point. It's great that some industries do things a certain way, but if you think every industry will operate in the same manner you're exceedingly short sighted.
I mean, this case here is a beautiful response to UL. It's a massive industry that chose not to self-regulate AND fought off government regulations. The end result is snake oil, well to be honest it's probably always been snake oil.
No where does that mean heavy regulation is good, look at autos. It's regulated and still cuts massive corners. However, 0 oversight is rarely good. How can the buyer beware when the information isn't available?