Europe had been a leader and an icon when it comes to innovation, research, development, for centuries.
I am mostly sure we are no longer that. Probably sitting in the 3rd after China and US, I wouldn't be surprised even if India becomes 3rd. I think this process has been going on for decades, several reasons but all that seems well planned. Bureaucracy is my top 1 reason though, too many people getting paid to bulk produce empty phrases and articles.
Regulations in that matter just follow that agenda - more regulation equals more authorities on EU salaries making sure people stick to those.