This sounds like a very US-centric view and id strongly disagree that only the profit motive keeps economies and people going.

You almost said it yourself, "The US does a weird thing where insurance no longer means pooling risk". Why? Is it the profit motive or gov. regulation?

My answer: The selective approach of insurance companies mirrors the profit seeking lack of solidarity, which is ultimately incompatible with the risk pooling purpose, insurance companies are justified with.

Free markets have down sides and failure conditions too and only principled gov. regulation can fix it.