This circuit has regulation too, it just isn't perfect.
Yes, while many regulation chips are made to be very close over
a wide range of operating conditions. They have some extra circuitry
built in for the sole purpose of regulating some parameter. This
extra step is what puts them in a class where you start looking
at little things like percent voltage regulation with line and
with load. The dc accuracy is made to be very good on purpose,
not as a by product of some other function for the same amplifier.
This is often done with an integrator, added in just for that.
I still don't see why you need a series resistor regardless of what the power supply is. It's true that you might want to incorperate over-current protection but a simple fuse or PTC resistor would do that.
When batteries are used as power sources in real life there is always
some internal resistance, while in a spice environment you have to
add it yourself. The point is that some power converters work
very well with a zero impedance source, but as soon as you add
some real world series resistance they dont regulate as well.
This is why i suggested trying a circuit with some series resistance
if it is going to be run on batteries.