That is still vulnerable: US-based get-rich-quick startup licenses a blessed model, or orders a few Gigatokens from another licensed /blessed model provider, at the same time it provides "blessed model" inference on its platform, but actually most of the inference is doing cheap foreign model inferences, the blessed model tokens were just bought to pretend serving the expensive blessed model. That is lucrative and not stopped with the "blessed model" approach.
No, startups will not be allowed to provide inference anymore, it'll be only the big companies that personally have a relationship with and can follow the rules of the government, such as Anthropic, OpenAI, Google, Microsoft, and Amazon. That is the real risk to all this talk of regulation.