Some regulation proposals seem fine to me, like the proposed EU AI act.
But for some of the problems the article lists, like defamation or porn generation, you just can’t prevent if you have free and open models out there. You can make these things harder - and people already work on that - but if I have a free and open model, I can also change it (and remove restrictions).
The only way to stop those uses would be to keep AI tightly controlled in a walled garden. In capitalism, those walled gardens will belong to companies.