Meh, no one has their back when they walk into a casino or are offered the chance to buy into a time-share or loan they can’t afford to repay.
I don’t know, a part of me sympathises with your point, but the other part of me is offended by the idea of someone playing the paternal role. Really, protection must be solicited and voluntary. Forced/obligatory ‘protection’ is just dominion in a well-intentioned disguise. We become reliant on a centralised body so we all feel the burden of the mistakes they make.
Voluntary protection for idiots who realise they are idiots is an idea I could get behind. Rules which inhibit the freedoms of people who want to exercise their right to make their own choices about things which only affect their own lives is indefensible imo. We learn by making mistakes, so we must be free to make them.