Although I think the other answers have a valid point with regards to the financial motives of the vendors, I still think there is valid reasons for displaying the "big scary warning" in the case of an untrusted SSL certificates.
Perhaps the most dangerous thing is not someone who expects no security (plain http connection, although it's arguable if the general public knows this), but the person who expects security - and isn't getting it.
Yes lots of times expired certificates may not be super dangerous, but these warnings can be indicators of a MitM attack in progress, so I certainly want a strong warning when it happens on say a banking website where I have an expectation of security.
Summary - Given things could be broken down into insecure (http) connections and secure (https) connections, I think it's reasonable to warn people to a higher degree when security you believe is in place isn't working as expected, as opposed to the (supposedly) knowledgable choice of using an insecure connection in the first place.