If what you mean by "Deregulation" is "different/better regulation" most people will happily support it. For example, most people would love to have the government just automatically mail them their tax refunds with the paperwork they need to verify it was correct. Standing in their way are companies who have been spending a lot of money on bribes to make sure filing our taxes is as expensive and difficult as possible (https://www.nbcnews.com/business/taxes/turbotax-h-r-block-sp...)
But once you convince someone that the legislation exists and the penalties exist for supplying fixed line broadband services, the next goal posts slide into place, and they reflexively defend the idea that the government would fine people more for overbuilding the national carrier to a greater extent than importing several kilos of cocaine. They parrot absolutely bonkers shit like "Internet is a natural monopoly" when they literally have to fine people to make it a monopoly.
Most people defend the status quo with extreme vigor. And most people aren't even slightly qualified to analyse the status quo. The supplied alternative doesnt matter. Some person they dont know, doing something they are ambivalent about might find their profession easier. Thats completely verboten.
I doubt any pithy slogan would have encompassed all of it, but the least they could have done was avoid something that most people would reject instantly for being insane. It's amazing that so many people managed to get past the slogan at all to get into the "well actually what we mean is..." and it was totally predictable that the slogan would be weaponized against the movement by opponents