I don't think the tweet said regulation is bad by definition. The beauty of a simple < 280 chars tweet is that it can contain ambiguity and admit multiple readings.
The way I read it is more like if you substituted the EU for say, Saudi Arabia. The Saudis btw bring oil (i.e. energy) to the party - but if they brought nothing but Saudi regulations would you still invite them? What "societal costs" would you be willing to pay to adhere to a certain level of House of Saud defined civility?
There's a danger in the myopia of fake universalism, of believing everyone wants your culture and civilization's definition of civility enforced on them - and perhaps they will accommodate you if you're bringing a lot else to the party, but if that's all you're bringing you might simply find yourself uninvited from a lot of parties.