Yes, you're quite correct, but the ULoad is meant to address non-every-day-use, and should have margin itself. The static test should give an indication of the real margin. Playing the game, as they termed it, will cause the plane damage in severe conditions, and the failure of this test insures they will have a difficult time accurately predicting the failure stress.
They have screwed La Chien with this.
7E7 - Yeah, baby!
I wonder if they will quietly re-write the specs for Va, Vb, Vne, Vno?
If it ain't Boeing, I ain't going.