I don't think it does make it meaningless. If governments aren't allowed to regulate they aren't governments, its anarchy. Somebody must have the power to curtail the excesses of the moneied class. If the government is prevented from doing that only vigilantism will.

We've already seen this play out. Government let's health insurance company get away with almost anything. The GOP wants to let them get away with more. One person who couldn't get the health care he was paying for took matters into his own hand