When you buy food from the supermarket, you expect to be able to see what is in it. You don't necessarily want to to check every item you buy for its percentage of sugar or unsaturated fat (or whatever), but you want to have the option. What if you are allergic to something? What if you are watching your weight? You might want to know what you are putting into your body before you eat it.
We don't have the same expectation when we are choosing digital products. Sure, there are terms and conditions and privacy policies, but nobody reads them, and in any case do they even contain the salient information? We don't know if we are exposing ourselves to ad-based monetization, or an infinite scroll attention-vortex, or addictive gamification. We don't know if our activity is being mined for future recommendations, or how our data is being stored or shared, actually. But we wilfully let these applications into our minds and our lives, even though we don't know what's in them.
I'm not saying regulation is required. But I do think technologists should think carefully about what they are putting into their products, outside one-eyed KPIs. And I think as users we should be thoughtful about what we eat. So to speak.