Totally, spot on. I think a great next step would be democratize the system that performs those tests and works with the regulatory institutions so new pharma companies can focus on innovation. A reasonable analog are the fintech startups that provide APIs and say essentially "were regulated so you don't have to be". That stuff is important and we should DRY it up so we don't have to copy/paste it every time we start a company.
Yeah, there are a ton of regulations If you want to bring a new drug to market. That makes it super expensive to do.
But in exchange we get pharmaceuticals that work, are reasonable safe, and are based solid data.