I agreed with much of your post, but not the conclusion.
To be a leader you have to have followers and we don't.
But one thing is certain, we're not supportive of a regulator because we're counter culture, unless you think our crony capitalism is somehow better than Yanky crony capitalism.
As for prepared for what's coming? There's no way to know that. All we want is the status quo gone because it works against us, but that wasn't always our view.
These past fifteen years we've wanted to be part of the status quo. We are where we are coz the old guard won't let us in, in fact they're actively hostile, so there's a potential upside for us if the regulator muzzles the fuckers who want us gone.
As for what replaces it, particularly under this government, is anyone's guess. Chances are it'll work to our advantage but I suspect our real motivation for the regulator is down to the realisation that we're never going to join the closed shop.