Comment by colmmacc

GenAI producers have an incentive to watermark ... it helps them avoid consuming generated output for their own training processes. Most "attackers" aren't going to be sophisticated enough to use a modified non-watermarking tool, and those are likely to fall behind in capability over time anyway. So there's a decent chance here that things could align for watermarking without needing regulation. It probably hinges on whether the stenography can be good enough to avoid being trivially removed or undone.