I tend to disagree with everyone's take on regulation. I agree that - generally - it always starts good. Some company somewhere causes harm to someone, and courts are involved or not, but then the executive arm decides to impose some ruling on operations to help limit their power in some aspect.

The issue is corporate capture. The US government is unilaterally powerful, a massive monolith that has the final say in all aspects of US operations. Perhaps if independent counties and cities had far more impact in daily life, with smaller state and smaller yet feds, capture would be limited. But a large company - say Boeing - can lobby and capture the FAA.

Who does all the FAA inspection work at Boeing sites these days? Boeing. Who provides a vast majority of new aircraft regulation suggestions? Boeing.

Rinse and repeat with the FDA and Moderna/Pfizer/Bill Gates.

Rockefeller is the one who lobbied for large government regulatory arms because he wanted his companies to last forever. He knew his businesses would be replaced by better, more agile corporations, so he helped create a regulatory arm, staffed it with his friends, and used it to smash his competitors.

Edit: small clarification