I'm struggling to envision how a tech disruption could work in this market. The essential problem seems to be an incentive system that's misaligned with investo

I'm struggling to envision how a tech disruption could work in this market. The essential problem seems to be an incentive system that's misaligned with investor incentives and overall economic health. How could a single company or group of companies alter a broken incentive system? It seems the two most salient options are (1) consolidation of competitors to reduce the race-to-the-bottom competition or (2) stricter regulation to prevent the kind of ratings shopping that debt issuers currently engage in. While I can see how a tech disruptor could potentially put all the other ratings agencies out of business and achieve (1), this seems like a tall order. And my uneducated gut-reaction to that scenario is "decreased competition bad," although I'm open to being proved wrong on that, as this does seem to be a case where competition has caused the problem (from the article: "One author, Colorado State University Finance Professor Sean Flynn, says “competition among credit-rating firms has, if anything, reduced the quality of credit ratings.”")