Some would say this is all downstream from the fact that the market is not “free” but “regulated” and the early winners in the market use their influence and we

Some would say this is all downstream from the fact that the market is not “free” but “regulated” and the early winners in the market use their influence and wealth to manipulate the regulatory apparatus in collaboration with the regulators who exercise their regulatory powers in ways that benefit themselves and established businesses. This is something that David Friedman has addressed.