Regulations are like code of a program. It's the business logic of how we want the world to be.
Like all code, it can be buggy, bloated and slow, or it can be well-written and efficiently achieve ambitious things.
If you have crappy unmaintainable code that doesn't work, then deleting it is an obvious improvement.
Like in programming, it takes a lot of skill to write code that achieves its goals in a way that is as simple as possible, but also isn't oversimplified to the point of failing to handle important cases.
The pro-regulation argument isn't for naively piling up more code and more bloat, but for improving and optimizing it.