Worth noting, though, that the SOX "burden" came out of Enron and WorldCom. I'd be willing to debate the actual mechanics of the burden and see if streamlining the regulations for modern companies is possible, but I won't accept that the burden is unjustified.

Yes, opaque accounting was a real problem. I would love to see a more streamlined, modern take on SOX. Today's SOX, in practice feels like a box-checking exercise and mandatory funneling of money to accounting firms who don't understand the intricacies of (among other things) modern software development. They forced inefficient processes on my company and weren't willing to discuss smarter solutions. No doubt there are better SOX auditors & consultants than I dealt with. But its part of the reason companies now stay private for longer and prefer secondary rounds for employee liquidity. So now retail investors miss out on the action, while accredited investors have even less transparency than a pre-SOX public company.