Regulation is extremely important, and has been part and parcel of alcohol and wine production since prehistoric times. Besides the health reasons, wine is very easy to cut with synthetic or artificial ingredients, which has important economic and health consequences - hence the use of government bonding for hundreds of years around the world.
But more recently, regulation is vital for setting up geographical indicators for production of items that are locally unique, e.g. Parmesean, Champagne, and the German Reinheitsgebot which are legally protected practices for the reasons in the first paragraph. Being able to identify the specific strains of yeast in this banana wine is a big part for arguing the provenance of it.