Yes. Competition is always the answer. You understand this, but I’ve known people who are repelled by the word “competition.”
They understand competition as some kind of aggressive, personal competition. So sometimes I throw in the word “choice” or “alternative.” It’s important that we always have alternatives available from which to choose.
One problem with government regulation is that it usually favors the big established player(s). Start-ups are often slighted or suppressed. We need start-ups, both to compete on price, and to innovate.
AKA crony capitalism.