I think the logical outcome of your argument
is that we would be better off without the inspectors. Hah!
Competition is great at keeping prices down and figuring out clever ways to deliver less, charge more, and get customers to continue to buy the product anyway. Another major pastime of competitors is to remove their competition. When you can remove your competitors you can do a much better job of delivering less, charging more, while keeping your customers.
I am very much in favor of competition. It has it's limits though.