Another point is that even if regulation is imperfect, it creates regulatory uncertainty which is likely to discourage investment and delay progress.
Uh, I'm fairly sure that's false? What law are you referring to?
As an example of what I'm saying, antitrust regulation is uncertain in the sense that we don't always know when a merger will be blocked or a big company will be broken up by regulators.
https://www.law.cornell.edu/wex/vagueness_doctrine
Maybe next time do some basic legal research before making ridiculous suggestions.
Do you think the GDPR would be unenforceable due to the vagueness doctrine if it was copy/pasted into a US context?
BTW, even if a regulation is absolutely precise, it still creates "regulatory uncertainty" in the sense that investors may be reluctant to invest due to the possibility of further regulations.