Earlier quoted context omitted.
The biggest problem isn't even new regulations. The liability for violation always tends to be a rounding error to profits. Then, even if there are teeth, there is no money for enforcement which makes it all pointless. Look at how the FTC and SEC have completely failed us in the 21st century. Better regulations would matter if we ever bothered to enforce the ones we already have.
This sums up the situation that government regulations don't work. These regulations put us on the path of trusting religious-like in government. We could be working toward push-button simple network segmentation with some kind of default filtering for install by the average home user.
We don't need to have religious-like faith in government because we can vote for people who will do what we want them to and we can vote out the people who refuse to do their job. It doesn't happen without the people getting involved and holding their government accountable though. You don't have to pray when you can vote.
Without regulation you could only ever have religious-like faith in private corporations because they have zero incentive to act benevolently and you have zero power to replace a CEO who is acting against the interests of the public. You have no vote, so prayer is all you have left.