There is no alternative. Why? The regulation is good only for US interests. It will be disastrous for the rest of the world like anything US has regulated (how dangerous that was like "nukes") and a lot of the world again will/might have to live under the American AI thumb, like it did (and many countries still do) under the US nuclear emboldened thumb.
> Everyone seems to want some fairytale world where there are open models
No, everyone wants a fairytale world where regulations are done "fairly", "openly", and "equally" - for both access and advancement. And everyone knows that's not gonna happen. Hell, everyone now knows exactly what it is. If you haven't understood it yet, then either you don't want to, or you just can't (for whatever reason).
No one wants to die in a nuclear or AI or AI+nuclear holocaust. But HN doesn't read world history, does it?