I am not drawing conclusions but frm a technical point of view i just find it strange that there doesn't seem to be such a mechanism.
Things like lathes, milling machines etc have emergency stop buttons because if something suddenly goes haywire, there is no other way to quickly remove energy from the system and ostensibly recover to a safe situation.
In a vehicle; there's already a "make everything stop right now I don't want to be moving button": the brake.
To observe a situation where the brake has failed, and to say "my goodness there clearly needs to be an emergency stop button here" is kind of weird. Approximately 0% of users would know where it is, the manual would have a hard time describing when to use it ("dear user, if the brakes fail (WTF!?), press this button"). If the driver in this incident had 5 seconds to think things through, he could have steered to a different location or done any other number of evasive maneuvers. It's just ridiculous to assert that an emergency stop button would have entered the driver's mind as an option in that fraction of a second, even if one was present.
So how about this: let's make the bloody brakes work instead of going on about "emergency stop" buttons.
In fact if we look back in history most regulations bad accidents first need to happen before changing or introducing laws and regulations.
So in this case you could also see it as a way to prevent other horrible things happening in the future.
Something needs to happen, yes. You've failed to demonstrate that an E-stop button is that solution, though.