There are obvious dangers inherent in events such as the Reno Air Races. The victims of the disaster were undoubtedly aware of those dangers and attended the event anyway. Does that mean they should not be able to file lawsuits to obtain compensation for their loss?
Not at all.
Granted, Life is Full of Risks
There are

passengers lost in the accident quite a bit differently from the families of the crew. For example, while the family members of the passenger may perhaps get their day in court, the claims of the crew members’ families are usually precluded