We need regulation to keep the web at least moderately open and interoperable. We need regulation to enforce standards and make it possible to jump over the wall of walled gardens.
We're in a sorry state right now in that only email and SMS are open standards for talking to people, and under constant siege. Attempts for new revolutionary decentralization are yet to do a better job than most protocols from the 80s. What if we had regulations to force service providers to provide APIs and interoperability in their services? What if messaging someone on Facebook from Google hangouts was as easy as sending an email?
The balkanization of the web and walled gardens is to me the biggest issue that affects the most people for the worst, and while we constantly talk about the new technologies that could solve the issue if only there was a way to develop them, we ignore (I think often out of unconditioned reflex) that the issue could be fixed in a timely and reasonable manner by bringing the government in with a reasonable framework.
People complain all the time about how Google and Facebook and Netflix and Spotify own all my data and make it impossible to use it outside their platform, yet I never hear people discussing the most obvious solution: just regulate them to make the data interoperable and empower you like you wish all the decentralized technology would enable you to do, if only they had adoption!