I would not have said that. I would have asked for the details and tried to find the gaps because, almost always, something could have been done. Then the question is how much risk reduction are you willing to pay for.

Isn't that the same with just more steps? Seems the svp was focusing on what they will do differently next time

Presumably the SVP joined the meeting because the incident was significant. The team can present the options but the executive may need to make a judgement call, and he can't do that responsibly if he turns his brain off. For instance, what if it happened due to understaffing or things falling between the cracks among teams, possibly indicating inadequate org design? Such things are the responsibility of management.