An enterprising person, great with children, would see an opportunity to make 72k a year to watch three kids. And another might offer to do it for 60k, and so on.
Regulations prevent that, and kill the free market. Now everyone pays a crapton to some facility where the owner jumped through all the hoops to get certified, while hiring minimum wage people to care for the kids. Not that some aren't great, but is it really a better system?