I personally find it incredibly useful, but I agree that it should be regulated. It is very obvious that the way these systems work currently is not in the interest of the citizens, judging by the numbers of people who go into a debt spiral they cannot resolve. Just because it’s useful for my case doesn’t mean that it should stay as it is.
It’s the people they’re counting on not paying after the BNPL period is over that need more protection. That’s where the trap is, and where these actors make their money.