Say you’re an energy company and an incident could mean that a big part of the country is without power, or you’re a large bank and you can’t process payroll for millions of workers. They’re ability to recover quickly and completely matters. Just recently in Australia an incident at Optus, a large phone company, prevented thousands of people from making emergency calls for several hours. Several people died including a child.
The people should require these providers behave responsibly. And the way the people do that is with a government.
Companies behave poorly all the time. Red tape isn’t always bad.
Problem is, a) governments are infiltrated by russian assets and b) governments are known to enforce detrimental IT regulations. Germany especially so.
> power plants, telco infra, traffic infrastructure or hospitals
Their system _will_ get hit by ransomware or APTs. It is not possible to mandate common sense or proper IT practices, no matter how strict the law. See the recent incident in South Korea with burned down data center with no backups.