I once stumbled on a discussion, on Reddit I think (or maybe it was Twitter) from a small-time farmer who basically admitted that most farmers in his position realized regulations were important and could be a force for good, but large agri-businesses constantly flouted rules and never got anything more than a slap on the wrist when caught. A sort of “rules for thee, not for me” situation. And so all the small time farmers had to cut corners and ignore regulations to remain competitive and viable.

Overly complex regulations could increase the barrier of entry for newer companies, small time entrepreneurs, etc. In some instances it can actually be in the interest of large, established companies to maintain overly complex regulatory environments as it keeps competition out of the market.

Insightful simplification of regulations that increases their effectiveness while reducing unnecessary burdens might be feasible, and also, beneficial for society as a whole.

Unfortunately, it doesn’t look like we’re going to get that with this administration. They’re just going to smash and break, and at best, they might realize they broke some important things and perhaps repair it to a limited extent.

edit: clarified a few points.