They won't cease to regulate, no.

But you may have noticed companies like Boeing getting white-glove treatment from regulators.

You know, deciding that their competitor's cheaper aircraft should be subject to a 300% tariff. Not burdening them with too much scrutiny about whether that modified aircraft should keep the same type rating. Taking their word for it when they say every aircraft has 100% of the door bolts installed. If they have broken some regulations, maybe giving a $150 billion company a $250 million fine.

Not ceasing to regulate - just regulators with broad discretionary power exercising that discretion in line with the will of the politicians who appoint them.