I think so. While it is true that you can't legislate morality (that is, force people to be moral), you can remind them where their actions will adversely impact others. That's the purpose of law. I'm uneasy about include tech in that duty. While we need to restrain the human inclinations towards narcissism and greed, we still want humans involved to interpret the nuances of human behavior.
Discussion
100%. My perspective coming from thinking very specifically about my industry. I would not want an unregulated oilfield. Seen enough fires and spills and shit already. The incentives are hard to align there so regulations are required