I've watercooled for nearly 17 years and I've only had one leak ever during that time...and it was my own fault for not properly securing a fitting.
I've also tested dozens of AIO coolers and have yet to see one that had a leak or an issue with coolant loss.
I've also never had a watercooling pump fail...and I have had some pumps that were operational in a system for over 6 years with daily use.
Much of what you see and read about watercooling failures are usually inexperience of people doing it for the first time and not knowing what needs to be done, so they find something to blame.
In the very, very rare occasion, there might actually be a fault, but most quality testing by reputable watercooling manufacturers takes care of this well before the consumer. Most of the leaks you see come from people over-tightening fittings or putting lateral stress on fittings which causes small fractures in acrylic (and even metals) which can cause leaks. Also, I've seen a lot of people use very long screws and puncture radiator tubes, but this isn't as common as it once used to be.
Watercooling isn't dangerous, but it does take knowledge, preparation, planning and a hefty budget. 'Cheap' and 'good watercooling' rarely go together in the same sentence. Most AIO coolers cost as much for then entire cooler as a quality watercooling pump, block or radiator alone might cost you for a custom loop....we're talking $75-$130 (US).
Also....even if a 'pump fails', a CPU isn't going to overheat and cook to death. All CPUs and motherboards come with thermal shutdown capabilities, so your machine would simply shut down before permanent damage would occur.