Not quite. Rights have some regulation, but not very much.

Everyone care bear arms. Some guns may require registration, there's a waiting period, and if you want to carry it concealed, you need a permit but the end result is the same: the right cannot be taken away except by due process of the law. Meaning you have to be convicted of an offense serious enough to warrant having the right stripped from you.

Everyone has the right to freedom of speech. No one is stopping anyone from yelling fire in a crowded room. Yet there are consequences for causing panic and public disorder if there is no fire.

Any regulation takes place to ensure that the exercising of a right does not infringe on someone else's rights.

And furthermore, let's take a look at privilege. My drivers license can't be taken from me without due process of the law. It can be suspended pending a hearing for certain offenses (DUI and reckless driving, for example), but I still have to appear before a judge. No such thing exists when you get the "take your shoes off or you don't fly" schpeil.