The role of free markets in regulating capitalist enterprise is not a static
force, the "invisible hand" of Adam Smith". It is dynamic, and varies depending on the evolutionary state of both the market and the enterprise. Innovation and competition change as the market evolves, and enterprises adjust to it: to a certain extent, they both adjust to relieve the stresses imposed by these constraints, and one way is to cooperate and alter their operating procedures to minimize those stresses.

This does not necessarily mean collusion, cartels or monopoly (although that certainly happens too); very often the participants simply compete in areas where they can split a market or avoid truly beneficial changes that are deemed too expensive to implement. The cars all look and run the same, but the chrome varies enormously from model to model. Sure, eventually sometimes a new player will arrive and exploit this and drive the others out of business by offering meaningful change, but it becomes increasingly difficult to do after a market is dominated by a handful of super-efficient giants.

Do we throw the baby out with the bath water? Of course not, but understanding this helps us better manage these entities before they abuse the consumer, their employees and their stockholders.