Regulation exists because of monopolistic practices and abuses in the early 20th century.
If you are paying for lobbyists to write the legislation you want, as corporations do, you get the law you want - that excludes competition, funds your errors etc.
The point is you are not dealing with 'humanity', you are dealing with those who represent authority for humanity - not the same thing at all. Connected politicians/CEOs etc are not actually representing 'humanity' - they merely say that they are doing so, while representing themselves.
But what started as a good thing has become a tool of those same companies to prevent competition. How we regulate needs to be rethought beyond the simplistic "more = better"