I don't disagree that they don't fix the problem entirely, nor that they don't address the core problem of housing affordability. I don't think they're useless though. They affect what many people see as an unfair practice. If stopping it is as easy as regulating it away, why not do so? Nobody is going to then turn around and assume the housing affordability problem is fixed, and if they did nobody is going to believe them. It's not like this is some new and not understood problem, nobody believes blind bidding is causing all the problems.

This, 100%. The rules can be whatever they are, but the participant with the most market power will always end up having the upper hand somehow

Sure! But still or even more then, wouldn't hurt to remove this intransparency aspect and what feels very unfair? Or what's the downside?

There are costs to creating and enforcing regulation, and then more costs if it needs to be rolled back (say, if there are unforeseen downsides to it).

You're just arguing with sellers that's why. There's no downside for buyers.