I read this as more of a "both, and" situation. Lots of other industries have ISACs (Information Sharing and Analysis Centers), mostly focused on information security, and they can work quite well. The FS-ISAC, for example, is quite active in the financial services sector and (IMHO) reasonably effective.
So, I think this is a good step for the AI industry. Of course regulation is still a necessary component, but an industry consortium focused on sharing lessons learned and good practices is a good step, in my view.
It's always been a little baffling not to see FAANGs on this list (the IT ISAC is broader than just the tech industry): https://www.nationalisacs.org/member-isacs-3
So, I think this is a good step for the AI industry. Of course regulation is still a necessary component, but an industry consortium focused on sharing lessons learned and good practices is a good step, in my view.