The point is regulations (and laws) are just tools - like a hammer they don't have inherent 'goodness'. A regulation can protect abusive business practices as easily as protect consumer rights.

Might doesn't make right but might writes. (regulations)

As you said, regulations and laws are tools. What you criticise about regulations can be said about laws. A law can protect a vile dictator as easily as protect a helpless citizen.

The problem isn't the laws or regulations, but the fact that we leave corrupt politicians to write them.

Of course, fixing that is much easier than done, because even if you have a functioning democracy, corrupt politicians are still propped up by propaganda. Corporate's wishing to write the laws contribute much to support those politicians with lobbying and propaganda (Murdoch news empire)

To solve this you need a well-educated, politically conscious population, which is easier said than done.

Being skeptical of the motivations of those who write and lobby for regulation is not overly cynical - it's a recognition of reality.

The less skeptical we are, the more self-serving regulation we'll get.

Had a boss that tried very hard to get us to develop some Voice verification system.

Apparently he knew all the right senators to get a regulation passed making it so all health companies would be forced to license our software.

Wasn’t technically feasible at the time. Might be now.

Freaked me out as to how evil it was.

Multiple banks and credit card companies customer support lines now say "this call may be recorded and your voice may be used for identity verification".

I am very skeptical that Facebook has ever acted in their users best interest. The EU privacy laws and the GDPR are a clearly beneficial law to citizens, protecting them against hostile companies.

Its fine that you are skeptic of FB. It is just that you seen unable to get that others can be very skeptical of EU regulations also.

EU members have some ability to hold EU regulations accountable though. The only way to hold Facebook accountable is with EU regulations