I guess you could look at it that way. However, in this time and day, most people are trying to get things done as inexpensively as possible..... including most people here..... probably you too. I know that I do.
Since most people are not electricians, they simply have to rely on that person's skills that the job is done right, even on the cheap.
I fault the electrician for not double checking to be sure the hot and neutral were correct and the installation of the "bootleg" ground was a mistake.... that should never be done. Using a GFCI outlet is the best way to solve a missing ground wire that is legal. Of course pulling a dedicated ground is better but I can attest that from being in this business and facing this very issue, that is not the easiest or the less expensive way. Certainly, rewiring with new cable is the best way. Using a non-contact tester, it is relatively easy to be sure the hot is actually the hot and the neutral is the neutral..... there is no excuse for 120v on a neutral slot in an outlet. Had the electrician taken the time to verify this one issue, the entire destruction of the studio gear would not have happened. When I used to do electrical work on a daily basis, and knew I was working on a 2 wire ungrounded circuit, I was especially careful to ensure the hot and neutral were not reversed when I was finished.
Older electricians remember a time when grounds were not common. 2 wires was the standard. Hot & neutral. The service equipment was grounded and the neutral was connected to the ground at the service. As a result, many homes with older wiring may still have this ungrounded wiring in it. Bonding the frame of dryers and ranges used to be a common thing....relying on the neutral wire to be the grounding means. This is known as 3 wire outlets. This is no longer approved on new installs. The new ones are called 4 wire outlets, having a separate ground and neutral wire. However, the older ones are grandfathered and need not be replaced as long as everything else is up to code..... wire size, breaker size, wire condition.....