This is true -- there is a lot of small number statistics in estimating the reliability of launch vehicles. And there are a lot of small risks you never see until you accumulate a lot of lunches. But that question is completely incidental to the design methodology.
A new vehicle will always be unproven. But one that's flown 5 times in testing (4 of them unsuccessfully) before its first flight will have had more flight time on most of its systems than something like the SLS where you take 10 years to think about what could go wrong and then do one test launch and call it good.
A new vehicle will always be unproven. But one that's flown 5 times in testing (4 of them unsuccessfully) before its first flight will have had more flight time on most of its systems than something like the SLS where you take 10 years to think about what could go wrong and then do one test launch and call it good.