That's good in theory, but in practice the subject is so complex and filled with judgement calls that you'd end up with something resembling a bar association.
After 8 or so years since GDPR went into effect, its main effects thus far have been annoying cookie banners and assisting corruption (our HoA have cited it as an excuse not to publish various names and contracts relating to maintenance of common property and politicians frequently remember that they have a right to be forgotten whenever there's a scandal nearby).
All the other technically illegal shit happened anyway. I have no reason to believe that the regulators will side with the people and every reason to believe that rules would be something along the lines of "it's too dangerous so you must use a LLM".
We need something. We need some way to force people to act responsibly. The amount of yeeting hundreds of thousands of lines of code without proper review or testing should have consequences.