Such a politically charged issue!
At their core, all hot sauces are peppers, preservatives(vinegar usually), and spices. Coloring/thickening/etc. are mostly about presentation/marketing. Tabasco peppers are nice and mild so you can get away with using a good amount. In really hot sauces that use capsaicin, there is a need to dilute things a lot and even then they're murderously spicy.
I really don't care about the ingredients if the sauce is good.
Tabasco is always in our house because it's called for in so many recipes.
If I'm just going to eat some tortilla chips with hot sauce, I prefer a thicker sauce like Cholula or El Yucatan.
If I'm looking for a painful day of dining I'll reach for a Dave's Insanity or one of the other crazy hot sauces.
My all-around favorite hot sauce is Melinda's XXXXtra Reserve. If it's important to you --> habanero peppers, carrots, onions, lime juice, vinegar, garlic, and salt