These kinds of things are somewhat self regulating...if a business treated their customers like that they wouldn't be in business very long. But in today's litigious society every business needs to protect themselves from the ambulance chasers that sue for pain and suffering because somebody stubbed their toe on the pool step.
Also if something is illegal you can't override it with a contract. For example, most all local laws and/or state laws requires a public facility operating a pool to maintain compliance with electric and safety codes. If the CG owner miswires the pool and electrocutes a guest, they are still liable because they are in violation of the law. The CG can't escape the law just because the CG guest signed a waiver when they checked in.
Same with your ax-wielding employee example...it is illegal to wield an axe to threaten people, and me signing a waiver doesn't make it legal.
Maybe need to take some law classes before you lose any more sleep over this....