Money, while clearly helpful in solving myriad problems, can often conceal a business's real flaws. It can also risk rigidifying a company's business model at the very moment it should be in 'customer discovery' mode or iterating around market opportunities.
When online business first appeared, a lot of operations would take your order and then disappear.
While I accept that large investment rounds will always garner headlines, it's almost as if the magic number of how much cash you've managed to raise has become both a stamp of approval and the main metric for gauging a business's true worth.
I can tell you that when you're counting every penny, knowing that you are a single bad decision away from bankruptcy, you inevitably lose focus on what really matters for your business.
The history of business has shown that companies usually only regulate themselves if they're forced to by legislation, or out of self-interest - often in the shape of a marketable message that will help sell more products.