The challenge is that without regulation you get $5 life-saving shampoo hacks, but you also get lots of shake oil that is useless or harmful.
You also get Pharma-Bro types selling medication WHO considers "essential" for 750 dollars a pill. Only the one company has(had) the regulatory approval to make a drug so basic Aussie school kids can make in chem class[0].
[0] https://qz.com/851416/why-martin-shkreli-and-turings-darapri...
Or, take high insulin prices caused by a government-granted oligopoly from the FDA. The FDA maintains high barriers to entry. We all suffer from artificially high prices and reduced access.