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The biggest issue with Libertarianism actually wielding power is that they cannot control the keys to power in a society. Any attempt by them to actually wield the keys to power leads to dilution of the ideals of the ideology itself, as by its very nature it is about minimising the cost of government and therefore the 'treasure' that anyone in power can use to bring others to their side. Conversely, the stronger and more powerful government already is, the greater the number of people that would be actively opposed to the ideology as they stand to lose considerable power and wealth in that kind of power transition.
Socialism has the Soviet problem along with being unable to counter the efficient market theory of economics; but Libertarianism has the Somalia social problems and 'freedom', also bears. The issue with an unregulated society in general is that it becomes extremely difficult to deal with bad actors of all types, a kind of societal distributed gish gallop, whereby what 'can be done in civil society' is overwhelmed by the outcomes already burnt into institutional memory like so many Chesterton's fences. We not remember lead laced tin cans, and snake oil salesmen, but I'm sure the FDA hasn't forgotten the reason for its existence.
Let’s not bring up the FDA as a good example when it’s a pretty clear case of failing the cost-benefit analysis test due to how much it impedes progress and raises costs.
Better to simply assign liability to punish and deter bad actors than erect a giant misaligned bureaucracy.
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