It means essentially the same thing as the current 'in-vogue' phrase, "It is, what it is." It means the law is not negotiable. It may not seem just in some cases but it is, above all else, the law.
There are ethical standards in the world and without ethics and morals who is to say you cant murder someone just because you felt it was right? Morals and Ethics are in law to enforce the universal...
Statutes rule! Regulations are just rules for carrying out the law the legislature made by statute. If the regulation is inconsistent with the statute (and sometimes they are) they can be challenged...