"People are prosperous because they work hard, use their intelligence, or sometimes just get lucky"
If that were true the richest people in America would be migrant farm laborers.
It takes all three, talent, hard work AND luck. And sometimes all three aren't enough. Now if you're stupid, lazy and unlucky, you'll probably never amount to anything, but that doesn't mean the opposite is true.
I agree that regulation should not be used to keep people down so others can do better. I believe the purpose of regulation is to prevent people from keeping others down so they can't do better.
Freedom means a level playing field, not no umpires.