The core conception of sepsis -that it is a dysregulated state -is a powerful and durable ideathat has inspired decades of research into sepsis. But is it true that the body's response to sepsis is dysregulated? To answer that question, this review surveyed the history of trials of agents targeting the host response. Sepsis survival is not improved by blocking one or many immune pathways. Similarly, sepsis is resistant to treatment by normalizing one or many physiologic parameters simultaneously. The vast majority of interventions are either ineffective or harmful.With this track record of failure, it is time to consider the null hypothesis -regulation instead of dysregulation -and possibility that sepsis traits are often functional, and do more harm than good. This review discusses the implications of this perspective for the future of sepsis research.