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Is the FDA good or bad?
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Let say, hypothetically, a regulatory agency like the FDA, lets 50% of bad thing get approved.
Well what happens without the FDA?
100% of the bad things will be legal to sell.
So do you still want an FDA even if they are corrupt and let 50% of bad things go through?
And the FDA lets way less than 50% of bad things go through (I don't have an exact number tho).
This is what people fail to take into account. Yeah, there are some departments that are going to be ran by incredibly incompetent people with almost no sane idea. But, that's disregarding the people who're not them who are still managing things and keeping said department from totally going batshit.