I think your comment exemplifies why people have an issue with "just regulate it" because there are endless nitpicks and carve-outs that seem arbitrary and will likely have unintended consequences. It's easy to go "then just do this" but in reality the government and private sector can only deal with so much from an enforcement and compliance perspective.
We need to start working on the premise that large corporations are different beasts than small businesses. I mean as a people of the world as a whole.
There is a tipping point somewhere and that is definitely up for conversation but we need to pick a point and start making sure regulation hits where it does good.
Frankly, the outcomes of both "regulate it" and "don't regulate it" have already both been captured by the biggest offenders to use as they wish.
saying "businesses over a certain size must comply" and "data must be anonymised" are not endless nitpicks, they're simple rules that can be and are regularly enforced the world over. I think your comment exemplifies why people have so much distaste for the corporate sphere and its disingenuous ideology in general