Yeah, I think it's right. I kind of like the idea that a health inspector visits a restaurant and that theaters have fire inspections. I don't like what TACB is doing, as listed on this thread, but this is something that should be addressed politically. It's not a constitutional issue.
Much like AAA's rating system for hotels, I'd bet that private commpanies would do a better job inspecting and certifying private property than the government does today.