Does that kind of regulation inhibit progress in some domains, sure - is the cost of the loss of that progress worth it against the likely outcome of de-regulating it absolutely.

Safety regulations are written in blood and when organisations like the FCC, FDA etc fall down on the job people die.

I want my cyberpunk aircar as much as the next geek but not at the price of having them fall out the sky because some programmer made an error at the end of a 70hr work week to make a deadline for shipping.