Then you’ll end up with the building equivalent of the titanic which had a lot of luxurious amenities and decor, but skimped on the more boring stuff like structural integrity. You can see this in effect in parts of Asia. The closest example we have in the US is the Millennium Tower. There were regulations, (someone could correct me) but they decided to “bribe” their way out of it.

Ironically, I still share your opinion about over regulation, but we can’t ignore the other argument.