Yes, but this is a symptom, not a cause, of a non-competitive market. You get stuck with only one option in markets where most of the other players have left t

Yes, but this is a symptom, not a cause, of a non-competitive market. You get stuck with only one option in markets where most of the other players have left the market because they can't figure out a way to make money in that market anymore. With competitive markets, switching costs are typically optimized away by the players that are interested in poaching one another's customers.