[noonespecial]

I think it will hurt real innovation. The big companies will just build the same crap they always do, but have an army of clerics and lawyers to shepherd that crap through the kafkaesque paperwork scheme that will certainly develop.

The real innovators will then not be able to come to market because the don't have $750k extra laying around for 6 months of burn waiting for/obtaining certifications, bonds, insurance etc.

Edit: In theory, I agree with OP, but in practice, these things almost always end up being more about permission than proficiency so we end up with corruption instead of competence.