There could be some kind of test as an alternative way to become an "accredited investor". If you make $250,000 for two years, or have $1 million in liquid assets, or pass the test. Why not?
Having a lot of money does not remove the bankruptcy problem. Having a family and/or friend support system does. Maybe if you can get four people who will vouch to let you sleep at their place while you recover from bankruptcy would be a better test?
Also, as said elsewhere, society now seems to let people risk big money gambling at casinos when the expected return is always negative.
