I'm frequently an opponent of (what I see as excessive) regulation, but in this case - would you really want to fly in a low barrier to entry situation? The vast majority of the barriers here seem to be related to ensuring safety.
The barrier to entry is the massive amount of capital to enter the market. If I can buy an airliner for pennies on the dollar, it does not mean that I have to be against or ignore safety regulations. The cost of safety regulations is minor compared to the cost of airplanes, pilots, airport fees and other infrastructure costs.