[antisthenes]

You're confusing free market capitalism with "perfectly competitive market".

Nowhere in the study of economics does it say that free market capitalism necessarily leads to all industries having multiple competing companies that drive prices down.

On a somewhat unrelated note, if history and human nature is any indicator, then we know that with an under-regulated market most industries will gravitate towards oligopolies with homogeneous product offerings, monopolies or cartels (colluding oligopolies)