I won't agree or disagree with that statement - here's what I will say..
If that power supply is putting out a peak of less than 18 volts (I'm not talking the average of 14.5 that you Hioki is displaying) than it DID NOT hurt the board. Something else did. You? Maybe. ZTEX? Maybe. Shipping? Maybe.
There is no way for you to know what the peak voltage of that supply is without an oscilloscope. Your Hioki is either an RMS or Averaging meter. A noisy supply that peaks at 19.5 but troughs at 9.5 will be displayed as 14.5 on an averaging meter. Similar results for an RMS meter..
Rundown:
Is the ztex board poorly designed? No, not in my opinion. It has a well designed regulator with a very reasonable input range.
What voltages can it tolerate? 0 - 18
What voltages can it operate at? 4.5-16
Is that 3Com power supply a piece of shit? Probably
Did the 3Com supply damage the ztex board? Absolutely no way to tell without an oscilloscope
Should ztex boards be protected? Probably not. It costs watts and money and you can never protect against everything anyway.
Is that 3com switch protected? God no. Plug the wrong supply into that and see what majick smoke comes out.
What can be done? Use GOOD quality power supplies on your 500 dollar boards or at least use a cheap supply that is way under volted. A 6V 'cheap' supply is not going to put out 18V under any normal circumstances. If it fails, it might put out wall voltage (110/220) - but under normal circumstances, it's going to be 'safe' for the ztex board.
Enigma
Do you really believe that an average customer should know about peaks, RMS, oscilloscopes and sine waves ?
For sure I'd picked a lower output power supply if manufacturer told me "hey, customer, beware that our boards have no overvoltage protection at all, because we care about our bucks but not about yours, so be very very careful about that".
I'd put a 5v one, to be safe. But you see the email above, it says "supermarket" power supply.
I really believe a customer should use a reasonably good power supply on boards that cost 500 bucks each.. I also believe a customer should be directed to a safe solution when they ask, not a cheap one. I never try to break my customers' banks, but I also suggest they spend money when it makes sense to do so.
As DeathAndTaxes mentioned, the real cost of "Protection" isn't in the manufacture of the board (their bucks) but in Watts (customer's bucks). "Protection" can be as simple as
a diode that prevents reverse bias (3 cents)..
or get more involved, and use
a zener clamp diode (19 cents)
http://www.mouser.com/ProductDetail/Vishay-Semiconductors/BZG03C16-TR/?qs=sGAEpiMZZMstCHp3EWKGl1tP683WM1O433kxgBzanSM%3dand optionally
a PTC (40 cents)
http://www.mouser.com/ProductDetail/Littelfuse/2920L200DR/?qs=sGAEpiMZZMu7EFbsM1w0nTP0ee3bziE2pcZdmj40k18%3dSo leaving it off isn't to save money, it's to save power (increase efficiency).
Now, there is a way to add protection without really costing power, and that is to use just the zener accross the power input with a PTC (no reverse protection diode). Interestingly, because of the way a zener works, it will still protect against reverse bias (kind of.. You can still get about -0.6V before the protection kicks in. Some circuits can survive that, some can't.) but it won't be inline burning power and creating heat. That may be a smart thing to add, if in fact the circuit can survive -0.6V (or be made to survive it relatively easily)...
Either way, MOST "boards" that you buy do not have protection. Motherboards? nope. Video cards? nope. Home Routers and switches? nope. DVD Players and Xboxes? nope. I'm actually a bit hard pressed to think of something you might regularly buy that IS protected from over voltage and/or reverse bias... having a hard time..
The manufacturers of these products expect that their customers will use an appropriate power supply, and therefor do not need protection. The caveat, of course, is that in most cases the manufacturer provides the power supply that the customer should use...