surely the optimal level of regulation is not zero but in this case probably the status quo (including wrongful death torts, etc.) has killed and brain-damaged more people than zero regulation would have, by halting progress 50 years ago

compare progress in aviation from 01923 to 01973 with progress from 01973 to today. we could have ultra-efficient ornithopters, mass-produced gossamer condors (maybe electric), mars-pathfinder-style airbags, ejection seats in coach class, suborbital commuter rockets to anywhere in the world in 45 minutes, and things we can't even imagine yet or don't know to be feasible

instead we have slight variations on the 50-year-old 747 and the 85-year-old piper cub (still running grossly inefficiently on leaded avgas), dramatic regression in crewed spaceflight capabilities, plus interesting experiments in hang gliders, jetpacks, hoverboards, and more conventional ultralights that have been unable to reach mass adoption

oh and uncrewed quadcopters and stealth bombers because those were unregulated