Prof,
Yep - and you have to be careful too about unintended consequences. I have no idea whether bacon contains anything that's good for us but if, say, it's a main source of iron (as I believe red meat is) and people stopped eating it the consequence could be that different illnesses would increase. It's a bit like the cycling stats - one-in-X rides will result in a fatality, but if the Y million cyclists there are sat on the sofa instead the death toll from heart disease etc would be much higher. Of course the answer is to make the options non-binary - go to the gym instead, but then perhaps there'd be more road accidents, more exhaust pollution as a result of people driving there. Risk and perception of risk are in other words not the same thing.
True - we need to look at the range of factors that affect health and how they inter-relate.
And perhaps the elephant in the room is poverty - I wouldn't be surprised if there is a relationship between deprivation and eating large amounts of processed meat, which tends to be both cheap and lasts a long time compared to fresh ingredients. The link between deprivation and poor health is scary. Where I work in East London, one of the most deprived areas in the UK, the life expectancy is five years less than in Kensington & Chelsea, which is less than 6 miles away.