I don't think that's what it means.
A well regulated militia, being necessary for a free state, the right of the people to keep and bear arms shall not be infringed.
Ok, so, what is well regulated? The Militia. For what reason? The security of a free state. What is needed? The people to have free access to firearms.
So, to me, if access to firearms is what is needed to have a well regulated militia, then it's not about government rules, it's about being properly trained, armed, and prepared. That's what "well regulated" appears to mean in this context, no?