In an ideal world that would be the case. But in an era of mass media, consumers really aren't making the choice. The choice is being made for them by ads.
> I'm not sure where the idea comes from that it that some government regulator should or even can micromanage the diet of ordinary citizens.
Pretty much everything a supermarket, restaurant, etc sells is regulated by the government. Whether you like it or not, government is involved in our diets.
> Do some people actually want to live in a world where some bureaucrat manages their diet?
A geniunely independent bureacrat? Maybe. On the other hand, do you want a world where corporations with their ads control your diet? It's a complex question.