The problem most ignore is that you will either have public regulation from the government or private regulation from companies.

Would you rather have a published regulation that is subject to democratic and judicial review and applies equally to every one. Or a company terms of service that forces binding arbitration and your only recourse is to not use the service?

I lived in a neighborhood with an hoa and it was the worst form of regulation I've ever dealt with. I own a health care provider and the regulation when it was direct medicaid was infinitely better than after it was privatizatized with managed care.