Disagree. Even if it was striving to regulate exactly the right thing in the first place, most of these issues occur for systems where no single actor could be

Disagree. Even if it was striving to regulate exactly the right thing in the first place, most of these issues occur for systems where no single actor could be expected to exert complete control and could well be vulnerable anyway. Start working with a nice, clean, fully relevant system, end up modelling that plus the whole range of adversarial perturbations from agents of pretty high complexity.