They only interfere when the amount of magical floating stock that would need to materialize to fulfill all the contracts and pay back all the loans is too much to actually break down the market. That is not the case yet. As long as the only consequence of a squeeze is that people that made bets loose all their money the SEC is not going to do anything. No one is being fooled into buying something that's riskier than it looks here.

Of course if GME asked to be delisted they could also help, but that also hasn't happened yet I think.