No John, thermal protection is intended protection, but when it fails, you have no protection against overheated regulator, any way suit your self, you are free agent, use regulators at your risk, I swear on my life, when i once saw a regulator made by Toshiba, 7815, it actually burst in flames, ever since then I have stopped using any regulators made by Toshiba, you will find they are fully encapsulated and has plastic tabs, where you do not need isolating kit if you were mounting them on a heatsink which required isolation, I had a stock of 100 such regulators, already by the time this happened many were already out there in some of my applications and I prayed that none of those burst into flame if should something else fails on my circuit board, I purchased them from Anglia Components, this was about 1992, since then I have stuck to more reliable regulators with metal tab, manufactured by National Semiconductor.
You said you were not going to debate and now you have gone full Trump into this debate, you stick to your regulators and i will stick to resistors with correct rating for all eventualities, so in your example you used maximum LED current of 50mA, when all the while I have been saying modern LED are much higher efficiency and use moderate 20mA and the maximum voltage we are going to encounter os 16v x 1.414 = 22.6V, so that gives us 1130Ohms, at under 1/2 watt, so no worries, I am not going to bang my head with any of you, I have personally experienced regulators overheating, burning even tracks and pcb, often regulators failing and destroying sensitive circuits.
My side of the debate is now closed, I will consider safety as paramount rather than being lazy and using a small TO92 plastic regulator.
You are free agent, there are no regulations on what you can and what you cannot use, if you are an OEM, you are answerable to your equipment failing and catching fire, and further more all electrical equipment still has to meet stringent EEC safety requirement regardless of Brexit.