It absolutely isn't. Industries are regulated because they don't naturally do what society wants. Regulation changes their incentives and behavior to make that

It absolutely isn't. Industries are regulated because they don't naturally do what society wants. Regulation changes their incentives and behavior to make that happen. A leopard can't change its spots and an ad-tech company is never going to design their products with preserving privacy first, because they can't [1]. It's like a body rejecting an organ transplant. [1] https://en.wikipedia.org/wiki/Privacy_by_design https://en.wikipedia.org/wiki/Privacy_by_design