I think the key argument in favor of the usefulness of these sorts of policies is that if I had to worry about all this stuff myself it would take a ton of time

I think the key argument in favor of the usefulness of these sorts of policies is that if I had to worry about all this stuff myself it would take a ton of time and I'd almost certainly still do a worse job than government regulators. That regulators make mistakes, even fairly often, doesn't necessarily convince me my life would be better without them.