Software has desperately needed regulation and licensing for years.
After 8 or so years since GDPR went into effect, its main effects thus far have been annoying cookie banners and assisting corruption (our HoA have cited it as an excuse not to publish various names and contracts relating to maintenance of common property and politicians frequently remember that they have a right to be forgotten whenever there's a scandal nearby).
All the other technically illegal shit happened anyway. I have no reason to believe that the regulators will side with the people and every reason to believe that rules would be something along the lines of "it's too dangerous so you must use a LLM".
We needed something 10 years ago when Cambridge Analytica showed that the consequences of the above are not just limited to the internet.
Google now writes the web standards and TikTok is telling people how to vote. Between the incentives and the fact that politicians don't understand tech, the only thing they'll end up forcing is "hundreds of thousands of untested, unreviewed code for authorized professionals"
What do you do with open source, with the arguments calling software speech?