You could also argue that the horses wouldn't be there at all if it wasn't for racing.
I'm not quite sure where you get the 'mincer' reference from, especially for the race in more recent times. Sure, in the past it's been an grueling race with tougher, more compact fences, especially on very soft ground, but not today.
The race today carries no more risk than any other jumps race.
Although owners make the decision to buy and race a horse, the vast majority have a genuine love for the horse and you would be completely inaccurate to take that view. Again, it's down to being uneducated.
Society seems to want to sanitize every aspect of our life, and owning a horse comes with certain negative possibilities and responsibilities and that have to be accepted and contradict that sanitized approach.
Is there a risk racing a horse, of course there is, there's a risk even owning a horse, but that doesn't mean there is no love for it.