Unfortunately, each step ends up being extremely challenging, and there's tons of noise, and the cost of each Read, Eval and Print is far higher than in a programming language. Further, the "system" is running 38,000 other "threads" all of which have direct read and write access to your data, some of those threads consider your data to be the enemy and cut it up, while others are just randomly spamming your console with uneccessary debug log messages.
We have actually reached the point where some scientists have synthetically created a novel chromosome, and used a preexisting cell to bootstrap the new genome so that the cell eventually contains only protein from the new genome. To me, that represents a step beyond tinkering: it means we can create synthetic lifeforms with exactly and only the details we want, which makes studying them and engineering them far easier.
Interestingly, even though this tech exists, nobody has found any interesting use for it and it's not even really used to probe biology.
A better example would be gene therapy, which has been developing slowly over decades. A single person died in the a trial in the 90s and stopped development (that's the regulation part you're referring to) for decades. In other trials that don't include gene therapy, patients routinely die and they're just a statistic.