Comment by myrion

Considering that companies will do everything to avoid doing sensible things that cost money - yes, of course the government has to step in and mandate things like this.

It's no different from safety standards for car manufacturers. Do you think it's ridiculous that the government tells them how to build cars?

And similarly here: If the company is big enough / important enough, then the cost to society if their IT is all fucked up is big enough that the government is justified in ensuring minimum standards. Including for backups.