I'm not convinced on either, the mindless automation is always effective so you just don't need to think about it, whereas for EV you need to intimately understand exactly which transactions you verified and what that means - the login HTML was authentic but you didn't check the Javascript? The entire login page was checked but HTTP POST of your password was not? The redirect to payment.mybank.example wasn't checked? Only the images were checked?
Imagine explaining to my mother how to properly check this, then imagine explaining why the check she just made is wrong now because the bank changed how their login procedure works.
We could have attempted something with better security, although nowhere close to fool proof, but the CAs were focused on a profitable product not on improving security, and I do not expect anyone to have another bite of that cherry.
As to the incentive to register, this is a cart v horse problem. Most businesses do not begin with a single unwavering vision of their eventual product and branding, they iterate, and that means the famous branding will need an expensive corporate change just to make the EV line up properly, that's just not going to happen much of the time, so people get used to seeing the "wrong" name and once that happens this is worthless.
Meanwhile crooks can spend a few bucks to register a similar-sounding name and registration authorities don't care, while the machine sees at a glance the differences between bobs-burgers.example and robs-burgers.example and bobsburgers.example, the analogous business registrations look similar enough that humans would click right past.