I'm pretty sure the "regulation is good" crowd are only talking about good regulations.
Maybe you are that way, in which case I applaud you. I've spent too much time trying to get people to admit that there are some regulations that we should get rid of. It's rather annoying.
The worst is when two of those people get in an argument and say, "we need more regulation!" "no, we need less regulation!" and you're sitting there watching, thinking, "hey, how about considering each piece of regulation individually? Because chances are we need more good regulation, and to get rid of bad regulations."
Or another one that is kind of funny, when someone says, "we need to regulate that industry." ok, but what specific regulations are going to make a difference? It's especially funny when they say it about an industry like banking or telecom, that is already highly regulated. Changing the raw number of regulations isn't going to do much there, because there are tons of them. Specifics matter.