No, this is not the way to go. Consumers cannot possibly understand all potential ways in which they can be screwed over, and even if they could, it is entirely likely that there are no good choices because consumers will have to choose between e.g privacy violation or environmental destruction, or privacy violation of some degree vs another degree.

This is why governments exist.

> Consumers cannot possibly understand all potential ways in which they can be screwed over

In a democracy, consumers and the government are the exact same thing. Since they ostensibly do not understand all of the potential ways in which they can be screwed over, how is calling themselves government going to magically change that? Maybe you are imagining a dictatorship instead, where the government is only a subset of all consumers, but even then the dictators are still just feeble consumers themselves remaining within the subset of all consumers. Being a dictator doesn't make you omniscient; still only human like all the others.

Government exists to clean up the outliers who are not behaving in line with the wishes of the consumers, but that cleanup can only occur when their undesirable behaviour is out there for all to plainly see. You cannot enforce what you don't recognize.

> consumers will have to choose between e.g privacy violation or environmental destruction, or privacy violation of some degree vs another degree.

Temporarily, perhaps, but in a functioning market one of those consumers feeling underserved will rise up to offer what's missing, eventually satisfying consumers again. However, ironically, consumers often consider that undesirable behaviour and use government to block that rising from occurring. For some reason consumers prefer to protect the market incumbents even when they claim to not like what the incumbents are doing.