I think the key problem with this idea is taught in basic Microeconomics. A competitive market should have zero profit. The choice of the government to allow a

I think the key problem with this idea is taught in basic Microeconomics. A competitive market should have zero profit. The choice of the government to allow a non competitive market is a choice to transfer consumer surplus to producers, which is effectively a tax-by-regulatory choice. So the counter argument to “what about Bell Labs” would be that the democratically elected government (in theory) can more efficiently gather that tax and pay for research. Recognizing counter arguments about effective allocation of resources to useful research. But also recognizing that much R&D goes to future profits for the company rather than just societal benefit.