I don't even think it's that, it's just been evolution through convenience. Corporate lobbyists say "hey don't create any pain around data leaks k?" and legislative aides say "that sounds cool, can someone pass the shrimp?"

If there's a Occam-friendly alternative explanation I'm all ears, but I've been looking for a while and I haven't found anything.

um, what you're describing sounds exactly like regulatory capture.

AIUI, it's the inverse: government assenting to industry requests. Perhaps a distinction without a difference, but to me regulatory capture necessarily involves the revolving door.