Absolutely correct, but you should also note that this is a critique from the left. The Lever, which has done great reporting on this, is run by David Sirota, one of Bernie Sanders' former top aides.
It's also my understanding that the brake requirement wouldn't have actually applied to this specific train because lobbyists successfully got the Obama admin to lower the requirements. Trump removed the already watered down regulation completely and Mayor Pete failed to reinstate it in any form.
This is the result of decades long corporate and industrial capture of our government. Both parties are entirely beholden to right wing corporate ideology. The republicans are certainly more extreme in their belief of it, but the Dems subscribe to the same logic with small restrictions to keep it running off the rails, so to speak.