This is not true. One problem is that language implementations are imperfect and may have much higher overhead than necessary. An even bigger problem is that defaults matter. Most users of a language don't consider integer overflow at all. They trust the language designers to make the default decision for them. I believe that most people would certainly choose overflow checks if they had a perfect implementation available, and perfect knowledge of the security and reliability implications (i.e. knowledge of all the future bugs that would result from overflow in their code), and carefully considered it and weighed all the options, but they don't even think about it. And they shouldn't have to!
For a language designer, considerations are different. Default integer overflow checks will hurt their benchmark scores (especially early in development when these things are set in stone while the implementation is still unoptimized), and benchmarks influence language adoption. So they choose the fast way. Similarly with hardware designers like you. Everyone is locally making decisions which are good for them, but the overall outcome is bad.