Funnily enough, I find this concept terrifying.

To some degree, I suppose?

From I biological standpoint, laughter might be a way to show that the situation is not dangerous. Basically
"Is noise tiger?! GO LOOK!!"
"hehe……just rabbit"
"Oh…haha….good, dinner"
Without the laugh, you realize, "Damn, is tiger and can't say or tiger hear, right?"

From another perspective, you can say it is the control of distance. "It is funny when it happens to the other guy". When a problem is very close and real to your situation, it is scary. When it is some distant prospect, it is easy to joke about. You can also use it to dispel stress over a close situation (trying to make it seem less distant).