Actually not as much point now.

The reason to regulate in maybe 2000 or so was that staying with IPv4 led to NAT. NAT led to it being impossible for users to receive incoming connections. Inability to receive incoming connections led to (a) horrendous protocol complexity, (b) probably some applications never even being invented, and, (c) everybody using ultra-centralized services. Ultra-centralized services led to advertising-driven distortions of service utility, concentration of political and economic power, and choke points. Choke points led to surveillance state bullshit that's just fully ripening today.

And, yes, this was (in broad outline) foreseeable in 2000. I wasn't the only one.