The regulation of drugs or most any consumer product is not due to the inherent danger of an item itself, but the danger presented to a consumer inside the context of societal mechanisms that influence behavior. You're right that many regulations don't make sense outside of a societal context -- but that's because they also don't exist outside of a societal context.

The reason we don't need tight regulations on bleach is because we don't have a societal issue causing people to drink it and hurt themselves... at least, not anymore: most of the locking lids on household cleaning chemicals are there by law.

The reason we don't need tight regulations on bleach is because we don't have a societal issue causing people to drink it and hurt themselves..

I think you missed out on a long time period of 4chan. They managed to get a number of people to mix ammonia and bleach.