It is common sense, and with literally any other administration in the past century it would seem like a good idea.

I have zero confidence that this particular administration has any interest in regulating the industry for the good of the country, much less for the good of humanity. They will use regulation to maximize personal profit for themselves and their cronies, at the expense of the nation. I would not have thought that of any other US administration in the past 100 years.

In the longer run, it probably won't matter. If the level of corruption we see currently becomes the norm, then the US is facing much bigger problems than counter-productive industrial policy.

It has already become the norm