[burnished]

That seems clear? Are you perhaps reading that as a literal command 'have faith in this process'? I believe their point is that you should have (or lose) faith in regulations as the constraint on industry, as opposed to companies which are viewed as having no restraint.

I don't entirely agree with that viewpoint, but they aren't saying anything inherently contradictory

[throwAGIway]

I'm reading it as naivity. You trust companies when you see evidence you should, and you stop trusting them when you shouldn't. Trusting a regulatory process leads you to bad decisions.