This would stop the currently exponential pace of growth from outpacing what society, and regulation, can adapt to. Thus avoiding the inevitable crash that will happen when we lose control of the exponentially accelerating train of technology, and it flies off the rails.
It’s not as simple as that.
For some it might be true, but for others, the opposite would be actual beneficial.
E.g. I see such a technological governor currently in action in my country trying to slowdown transition to sustainable energies.
I don’t think that is a desirable governor, unless you are over 60 and don’t give a shit about what will be happening in a few years, cause you’ll be dead by then.