Regulation can't prevent most or all the relatively few accidents that have happened. A mech
mod and a user built coil can't be controlled by regulations. Nor can regs prevent poorly built or designed switches from sticking closed or staying closed in a user's pocket. These things (the sub ohm mech
mods) are inherently dangerous to some degree. And that degree is controlled by the user.
If flashlight user built their own lamps and competed for the brightest possible light, you would have the same problem with flashlights.
Maybe a side issue is that regulation will never work unless branded clones are stamped out. The idea of regulation is rather insane in the current wild west environment where gerar is copied right down to the packaging and brand markings, and sold openly. Most people probably have no idea who made their gear, and in a lot of cases don't own what they think they own. Of course you could argue that that state of affairs will help bring on regulation too, I guess.
Personally I have a huge issue with the attempt to make a riskless world. I have no problem with people taking risks. But those ideas were stamped out decades ago. Especially when political axes are being ground, as they are here.