Hmmmm,
Looking at the top 1,000 things governments worry about...stupid things like water, food, shelter, economics, healthcare, roads, infrastructure....working my way down the list...., chemicals, electrical safety....down to diapers, make up safety.... standards for
mesurement.... Sorry, Audio quality and fraud does not make the list.
Audio is entertainment, style and flash and I don't see any regulations about how much a purse should cost, a limit on charges for a paint job on a car and that sort of thing. Fashion has an unlimited price ceiling and it has always been that way. Billions of people around the world don't have an issue with audio and governments can't legislate common sense. Now that everyone has access to the global information network, critical thought and taking the time to do research on anything makes any audio fraud more on you and less on them.
Most people won't spend $1,000 on a piece of wire even if it did do something! It's just audio, in the greater scheme of things a huge percentage of the population don't care. Do I personally care that it costs $30,000 for the annual service on a Ferrari? Not at all! Can't cry about getting robbed for something like that--it is a toy and toys cost money. Now if the Ferrari has flaws that will kill people, the government steps in just as the FCC stepped in almost 50 years ago when the audio companies just made up specifications. They also care of the devices burns down your house, electrocutes people or violates electrical, health and safety standards.
Audio stuff is viewed the same way as fashion, makeup, super cars and furniture--not required to live and as long as it is reasonably safe--claim whatever you like as it is a trinket. All sorts of garbage out there to blow money on, not a problem as long as it is optional for living your life. This happens across the board, you can build a house with surgical grade titanium screws if you like... as long as it meets building standards. I have the freedom to build a bird house out of 24mm baltic birch and covered with veneers that run $1,000 a sheet, use those surgical screws, have a custom titanium frame CNC'd if I like and put 80 coats of metalic paint to finish my bird house. With pride, I can blow $50,000 on a bird house and the government don't care.
There is a fool born every minute and two to take him. There is little excuse these days as anyone can fact check any advertisement. If they choose to spend massive amounts of money on BS because they were too lazy or ignorant to research their purchase--they have the freedom to do so. If you don't have the time to cook proper food, grabbing McD's is an option and it is up to you to know what you are eating. If you purchase all natural male enhancement because advertizers never lie--that is on you! The government did step in on them--they made medical claims and they have to back that up with proof. Still, some people think Vitamin C does something although it does not. It won't hurt you within sane limits but other vitamins will so the game continues. No big deal--it is on you to be a critical thinker eventually as "Not evaluated by the FDA" does mean something.
Look at the automotive hobby--that is full of fraud, scams and utter BS. No worries, anyone involved quickly learns that the color red does not make the car faster, you can't get 50% more power by an air filter swap and putting a tail pipe the size of your leg does not gain power. It does look cool if you are into that sort of thing though. As long as those three wings on the back of your front wheel drive car don't fly off, more power to you! All that audiophile BS is the same as all the teenagers doing stupid things to their cars, be it big tail pipes, wings to tires the thickness of rubber bands. Very easy to spend $50,000 on parts to make your car slower, handle worse and break down but you have the freedom to do so! Sure, they either eventually grow up, learn how the car actually works or continually dump money into whatever the latest fashion is--generally, by the time they hit 30 years old they should figure it out. They are doing the world a service, a warning that a noob is on the roads so avoid them and give them extra space as they might crash into things.
So think positive, if you ever run into a person that has giant cables, power cords, wire elevators and crystals in bowls--that is a natural warning to you that avoiding that person might be a good survival instinct. After all, if you wish to avoid voltage drops--get rid of the fuses and replace with copper or silver bars. Might be a good idea to avoid that line of thinking or lack there of. I don't specialize in deprogramming people in belief systems and life is to short to learn now. Just a with giant tail pipes, three wings, stickers, electric fans as super chargers and swapping out parts at random on cars ignoring engineering from automotive firms the same holds true for audio. Just smile an wave, be thankful those type of people will give you a visual indicator of their concept of reality and press on.
So relax, the people blowing massive money on gadgets that don't do anything is not a concern. Audio is not required to live, it is just a form of entertainment so is not regulated. If a person blows mega money on trinkets, that is capitalism. If they blow all that money instead of paying their bills, eating or feeding the kids...the banks and the government will step in. At least the snake oil companies pay taxes so... if it does no harm, so be it.