It's not much different than governments regulating electrical power oulets/plugs. And no one thinks that that should be a free-for-all.
Of course, there's still fragmentation among different continents/countries, but that was inevitable given the time periods these things were standardised. It's unfortunate that the world didn't decide on one standard, but at least almost all countries are internally consistent. There's no need to make the same mistake with USB.
We should allow electrical and networking companies to innovate again. If Cisco wants to use something else instead of RJ45, they should be allowed to be.
Of course, there's still fragmentation among different continents/countries, but that was inevitable given the time periods these things were standardised. It's unfortunate that the world didn't decide on one standard, but at least almost all countries are internally consistent. There's no need to make the same mistake with USB.