One level of safety, you know, the thing the FAA pushes. Unless there is a financial reason not to (UPS crying wolf getting 117 not to apply to cargo) and now this medical issue (congress getting involved in a place they have no business being).
But hey, one level of safety...
The thing is there is not "One Level of Safety" in aviation. The entire spectrum of aviation has vastly different levels of risk. The FAA judges how many people are being put at risk, what level of risk, how much public access there is to the activity, and (yes it does matter) how much money it will cost to comply.
121, since the general public relies on it to travel to grandmas house, must the lowest level of risk possible. The FAA puts 121 flying to a great deal of scrutiny, and control (dictiating training programs, operational control, ect). No one is talking about relaxing the standards for a first class medical. If anyone was stupid enough to do so, ALPA absolutely should put a stop to it, and I would support them 100%. I think other countries where each crew is given a mini physical before take off are a little out of line, but that's them.
Meanwhile, parachuting out of an airplane is an obviously risky endeavor. The risk is almost entirely assumed by the jumpers themselves, and the FAA exercises almost no regulatory control over skydiving (other than labeling DZs, TSOing parachutes, and certifying riggers). USPA self-regulates the industry, issuing "licenses" and setting training standards. Tandem jumpers realistically know what they are getting themselves into before they jump.
There is no medical required for flying a floating propane bomb over Todd's house in a hot air balloon
LSA pilots do not require a medical, even to carry passengers who are typically family or friends of the pilot. I don't see any serious additional risk to the general public by allowing a guy in a Skyhawk do the same thing, whether or not he has hypertension.