Relying on updates to fix security holes does not work! It hasn't worked to keep us secure over the past twenty years, what reason is there to suppose it will work for the next twenty?
You mention mobile phones, Blu-ray players and so on. Those are all parts of the software industry. When I said 'this would not be acceptable in any other industry' I was referring to industries other than software. It is not good enough to put up an unsound building and return to fix it later when flaws are discovered. (It does happen, but is rare and shaming for the architects and builders involved.) You can't sell a desk lamp with unsafe wiring and rely on asking people to take it back to the store later. Only in the software industry do we try to get away with such practices. And as you say, the market usually tolerates it.