The regen receiver oscillates all the time and needs a very strong radio signal to receive it. A regen receiver that works better has a regen control that is adjusted so it almost oscillates and is much more sensitive.
It is not a real radio circuit, it is very cheap and simple so of course it is without good results.
The signal level from a microphone is about 10mV but the signal level from an audio source is 300mV or more. What do you think is needed to replace the mic with a jack?