Correct.
They can restructure until the cows come home, but it will make little-to-no practical difference while there's a yawning gap between the rhetoric and the action.
For example, Mr Skidmore had his chance to take an evidence-based and risk-based regulatory approach to colour vision deficiency. He failed. He's left Avmed free to wreak continuing havoc.
The regulatory bugger's muddle they're administering will be the same, irrespective of their structure. And governments don't care what it's doing to GA, because there's no political advantage gained by caring.