Sure you guys don't have any latitude but that isn't the norm in our world. Average scene luminance range is about 7 stops, if the film is capable of 10 there are 3 stops of room, latitude, to play with. 12 gets us 5 to spare, for the average Joe or Mark shooting portraits and family and wedding stuff, that's a lot of latitude.
The reason the 200 observers comment was included, as well as citing the exact reference, was to show that the idea that "more than one exposure setting can produce excellent prints" isn't unproven conjecture on my part. It's peer reviewed science.