I completely agree.
I have two points to make about plastic. It's a useful material, but it poses a pollution problem. So, we need to support the value of plastic in our economy or increase the value of that plastic.
That means that, for recycled products, we need labelling that tells us what they contain. We don't want to see tens of thousands of formulations that don't tell us whether it's safe to use them to make bottles, hot dog wrappers and so on.