I not a licensed broker or anything like that (briefly considered it decades ago, did work very briefly on the floor of the Chicago Mercantile Exchange as a runner for a trading firm) but I've followed the markets for decades (and have at times been a more active trader than I am these days - now I'm a very boring holder of lots of low fee funds and ETFs and only a handful of shares directly) - but broadly investors (public and private) prefer known regulatory and structural systems over chaos