Pulse oximetry is considered too misleading for a non-expert to interpret at cabin pressure altitude and so not included as standard on many airlines. Cabin crew are taught to provide supplemental oxygen straight away for most types of unwell passenger. As there are no drugs to perform a rapid sequence induction I can't think of a situation where pulse oximetry would inform your decision to intubate, although I realise you are making a wider point about equipment levels being discordant.