It can be either, but in both cases the ultimate goals are the same: increase efficiency. So if they buy multiple domain registrars then they can share infrastr

It can be either, but in both cases the ultimate goals are the same: increase efficiency. So if they buy multiple domain registrars then they can share infrastructure and staff and become more efficient. Or, without merging companies they can simply change the goal from growth to efficiency and "make do with less" and then that naturally leads to enshitification.