Why do we need regulation? Then it just becomes a thing managed by the powers that be the way they want? If we have properly shepherded data then we need no reg

Why do we need regulation? Then it just becomes a thing managed by the powers that be the way they want? If we have properly shepherded data then we need no regulation. If a Remarkable tablet knows you only by a token and encrypts all of your data with your key then the Remarkable company has no access to your data by default even if they host it.