Will increased regulation really lead to increased investor safety? [SERIOUS]

Browing through the sentiment of the subreddit, there's seems to be a vocal minority who espouse that regulations equal more safety for investors in the crypto space. I'm personally leaning towards it not having a big effect, and my reasoning comes from looking at the already regulated markets:

• Madoff ponzi scheme was under investigation 8 times over 16 years by the SEC (still resulted in a $85b scam.
• Most exchanges operate internationally and can easily skirt national jurisdictions (FTX was in the Bahamas).
• Ponzi schemes are despite it's increasing popularity in crypto, still a huge issue in the highly regulated markets. Despite some describing crypto as the wild west, it's still not even close.
• Even if the regulations are fully enacted on the crypto markets, the sentencing and fines are still not going to be a big enough deterrent, as they aren't even doing that in highly regulated markets.
• Banks are still corrupt and fail (500+ banks failed since 2009 when BTC entered the market)
• Historically big scams such as Theranos (almost $1b) happened under scrutiny from the FTC and SEC and out in public for years.

I think the trade-offs would just be too big, but I am open to having my mind changed on the issue. Should we really go the route of everyone owning a crypto YouTube channel having to be a state certifited financial advisor, just because of people like BitBoy?