As an entrepreneur, I can tell you that it is a lot easier improving an existing business than successfully starting a new venture from scratch. Real estate brokerage is a low margin business. Businesses that focus on their core business are generally more successful than those that thinly spread their financial and manpower resources over diverse enterprises. An established brokerage has 12 to 20 full-time licensed agents. That's why most of them also list and sell real estate and constantly seek other revenue streams for additional personal income.
Few brokerages break even in their first year of operation.
Every study I have seen indicates that a large majority of buyers and sellers have used, are using, or would use, a real estate agent in the purchase or sale of real estate. The public is obviously happy with the choices now available. If they open their own real estate brokerage service, they will likely reduce their market share as real estate agents seek alternative lenders that are not competitors. Human nature won't be changed by a new Rule. It is also not likely real estate brokers will roll over or throw in the towel should the proposed Rule be adopted.