Eh, don’t really disagree with what you are saying. The problem is money and industry influence in politics and it’s something that needs to be eliminated. I don’t quiet take your point that regulations don’t matter. Assuming money and industry influence are removed from politics we’d see laws and regulations more line with the public interest over corporate interest.
Even if we fully ditched capitalism, you’d still need/want regulations setting the bounds on how government can/should operate.