Bureaucracy is a very real problem in many fields, but when we are talking about launching potentially untrackable satellite in space, having some form of oversight is probably good.

Certain things (health care, transportation, aerospace,...) yes. And even if not, if there are regulated markets, or markets with a high degree of rules applying to it, it's usually not to smart for a company to just ignore them. Challenge them, maybe. Ignoring them not so much. There are quite a number of examples proofing that point in sometimes ugly ways.