Well, yes. I don't know if you've noticed, but short-term convenience trumps all other concerns. The market can't really deal with these issues, because they are too subtle and expensive for individuals to work out for themselves. We really do need collective action, by way of regulation, similar to how we recognized as a society that workplace safety laws were not something private businesses were ever going to compete on, and we just needed to force them to comply. And no doubt the same howls of protest let loose then, too, about how "the extra costs will put me out of business", etc. It was then, as it is now, hogwash.
And in fact I would argue this kind of regulation not only important for consumers, but for national security. As more and more individuals lives become dependent on centralized information infrastructure, the more damage espionage (foreign or domestic) can do, not to mention the effect of wide-scale DoS attacks. Imagine a world where all smart devices are bricked...so much of the old infrastructure is gone - phones, phone books, maps, manuals. In some cases you might not even be able to vacuum your house (Roomba owners), or make a POTS phone call.
So yeah, its bad on multiple fronts, and I fear that the correcting event will be catastrophic (like, supply chain catastrophic, leading to starvation).
