No, that is not called the free market. The definition I learned was that both the sellers and buyers have perfect knowledge as to product and price.
The stock market is a free market and there are elaborate, legally mandated disclosure requirements, required financial audits and many other requirements of information sellers of stock must provide to potention buyers.
All this BS about withholding information from consumers is nothing but a bunch unethical sellers trying to avoid telling consumers anything that might make their product less appealing. And that is not a free market.
A seller doesn’t have to reveal all information to the consumer. You might as well ask Apple Corp. to supply schematics, software printouts, engineering data, etc., simply because you bought an iPhone.
In a free market, the consumer is free to request whatever they want as part of the deal. The producer has a legal (I think) obligation to answer correctly or not at all. What they cannot legally do is lie to you about what you’re getting.
The idea the both sellers and buyers have “perfect” knowledge as to product is, frankly, ludicrous. Again, none of this prevents you as the buyer from not taking the deal. No one is twisting your arm to buy anything—well, I take that back with Obamacare—but you get the point.