Where 'efficiency is maximised' destroying and burning out human capital, then clearly the Regulator must regulate.
But there is no incentive to do so...
In Australia this will not occur until such time as the trail of bodies necessitates more action than talk.
I'm not so sure that even a trail of bodies would do the trick as the system can simply put the cause down to human error and once again blame the pilot/s. Interestingly, such events would probably also play into the hands of those arguing that pilots should be removed from cockpits altogether...