> but in fact the higher the competition, the higher the quality will be. If this were true, then appliance manufacturers who produce higher-quality goods woul

> but in fact the higher the competition, the higher the quality will be. If this were true, then appliance manufacturers who produce higher-quality goods would be rewarded. But instead, we're at a weird state where appliances are still not cheap while also not being built to last. Competition isn't guaranteed to keep the market honest; I'd argue once a market passes a certain size the number of people who can spot lemons becomes insignificant, and then it's a race to the bottom.