The problem is that, as we are currently seeing, that any administration can reverse any policy previously set. So any regulation is not a permanent solution.
Depends on what you mean by "can". You're right in that any administration that successfully abandons the rule of law can do anything they want, but that's not a problem inherent to regulation as a concept. Regulation is a good solution, but it won't work when a corrupt, lawless regime is in power. It's kinda like saying we shouldn't vaccinate because being forced to drink toilet water can kill us.
As for not being a permanent solution, that's okay. No regulation is meant to be permanent. Regulations are supposed to change, but there's supposed to be a process to follow and that process is supposed to ensure that the change happens for the good of the society and is governed by the will of the people.
The fact that none of those prerequisites are currently satisfied does not imply that regulation doesn't work.
So I'm not really sure where you seem to think an abandonment of rule of law is at play
https://www.hsgac.senate.gov/wp-content/uploads/hSGAC-Minori...