No doubt it's better, but the safety benefit of full in cab signalling versus a system that can still bring the train to a stand if necessary is rather small, whereas AWS/TPWS to KVM/PZB/ALSN/ETCS L1 LS is a fairly significant jump.
Cab signalling becomes significant really when you consider capacity. Even with fixed blocks it can allow trains to run closer and of course it is the stepping stone to a moving block system.
How much headway benefit you get from cab signalling depends heavily on how continuous the better-aspect updates are. While a fully continuous implementation can update forward aspects before the driver even sees them, A cheap system with little infill will be much worse than visual interpretation in this respect if the associated protection features don't step up and allow reacceleration until a transponder at or near the signal is reached, even when the step-up had been seen by the Mk.1 eyeball many hundreds of metres before on approach.
Infill is expensive, requiring additional transponders, or track loop antennae. One way to tackle this in modern systems is by using data radio which is clearly what the higher levels of ETCS do on a wide scale. A localised radio system can also be used in conjunction with Level 1 Limited Supervision. Radio allows an infill distance range on approach, often corresponding quite closely with the visual range of a signal, to be covered entirely by transmission from a single point source.
Administrations' desire to remove lineside signals is not a new phenomenon.
The Pensylvannia RR experimented with no signals for their coded track circuit system but ultimately decided to retain them.
The Chicago & North Western RR removed many lineside signals in the 1920s after they implemented an inductive Automatic Train Control (ATC) system across their entire mainline between Chicago and Omaha. For nearly a century, C&NW trains traversed America's midwest relying entirely on cab indicators for plain track headway blocks, with optical lineside signals only at junctions and crossovers. They didn't even have any signage marking and labelling the fixed block extremities originally, but block markers were introduced subsequently, after rule changes came into force requiring crew to be able to report exactly where they were in radio communications.
As
@takno says, with all that track circuit equipment out there, there was still a lot to maintain, but filament-based signals were a major headache, mainly due to the repeated lamp changing required, either following in service failure or often through a policy of routinely changing them before they're likely to fail, in very operationally critical areas particularly. Even the long-life 8000-hour version of the common dual filament SL35 lamp in the UK is rated for under one year of continuous illumination. They were under-run a little for longevity, but lamp changing was a significant proportion of the technician workload in filament days nonetheless.