In the early days of the republic, Congress closely regulated the privateers (privately owned warships), their operations and movements were highly infringed. Congress did away with them completely after a short time... within the lifespan of many of the founding fathers. Did Jefferson, Adams, or Madison speak out against disarming the privateers, denying them the RKBA? Uh... No.
This is a flawed interpretation...yes privateers were regulated...however privateers were regulated by virtue of being government agents, not because they owned boats with cannons. There is a huge difference.