Monopoly also means "exclusive or near exclusive access or control of something" for instance "she is monopolizing her time" and in that usage the original poster is using it correctly.
In fact, I think we should retire the term monopsony exactly because its actual usage is a subset of the usage of monopoly and nobody ever cares about the distinction.
In fact, I think we should retire the term monopsony exactly because its actual usage is a subset of the usage of monopoly and nobody ever cares about the distinction.