"regulation bad" appears to be just an american thing. everyone else is doing it... but it takes time and is not necessarily done well.
these extreme voices get more head space online because that's the only thing that can get any meaningful attention nowadays. you won't see the vast majority of people stuck at "well, some of the things it does are kind of impressive but the practical results are not there for us, i'm not sure why and i don't understand the impact and background entirely so i just don't know". you'll only ever hear from people that are either "AI evangelists" and are backed up by a huge amount of marketing money and propped by the algorithm or from the people who sound like they are about to fire bomb a data center.
there are many people who are much more sober about these things. look at this video for an example: https://youtu.be/xwXM2pHj0g4
IMO the real problem is that both regulation and the so called "free market" are susceptible to being taken over by players that just don't play fair. we all know that LLMs and many other tech "improvements" would not be viable if they had to play by the same rules as everyone else (e.g. source training data, resources and energy in a moral way and charge a fair price for the actual measured contribution they provide). but that's kind of their game, right? they find a way to be more efficient... not necessarily by improving a product but sometimes simply by finding a hole in the rules. and then they haul in the money and use it to put out any competition and poke more holes in the rules.