So the govt implements rules and a panopticon for penalties. this works for the FDA, why wouldn't it for the FCC

Because regulation is bad, according to the current executive?

Politics aside, the FDA applies a very generous amount of regulation (mostly justifiable), not sure we want to pay multiples for our consumer electronics, as it (mostly) shows acceptable behavior and rearely kills anybody.

It is bad. Regulations have been historically hijacked to benefit corporate interests. See Intuit and tax policy for example.

Voters on the right naively thought he'd work to fix it. (Wrong!) But it is very much bad for a very large number of issues. Maybe next executive will fix it? (Wrong!)