No one in a position of power has a compelling reason to get the...

No one in a position of power has a compelling reason to get the regulators to act differently.
Royal Comissions are ineffective, they're generally manipulated by current market players to solidify their position, bit market players have the incentive to deep knowledge to throw resources at sumbmissions into these processes to ensure they get an outcome that is favourable to them.
The entire political system and therefore oversight of regulators is captured by large industry players.
Consumers are either uninformed or don't have the resources to influence the outcomes.

So if you try to bet against the big industry players, sure you might make a bit of money by the regulators cracking down on some of the weaker players, but the big guys will never suffer the sort of damage you're hoping for. It's like the big drug dealers in Australia and the arrangements they have with law enforcement, some drug busts have to be made to give the general public the impression that the law enforement are doing their job, but the drug business still continues on so the busts aren't doing that much damage.