It is what it is, but it did not have to be what it is. In fact, Teddy Roosevelt gave us about 100 years of feeling we don’t have to submit to Darwinian competition among giants. Instead we felt we could and should protect ~efficient markets against giants who would with their giant market power break ~efficient markets.
When a few movie studios were vertically integrating with theater chains of their own to restrict consumer choice, the regulators protected the ~efficient market by forbidding movie studio content creators from owing the final, retail part of the distribution chain, the theaters.
Broadly, an efficient market and its benefits only exist under certain conditions, and if monopolies and the like, or externalities, or high transaction costs, get in the way, then the market is no longer efficient. Many people misnamed the efficient market a “free market”, and used the word “free” to imply a religion that all regulation is bad. And that is where we are, government by slogans instead of actual net benefits or actual efficiency. And we feel helpless and think that is normal and good because being helpless is part of our dogmatic sloganriffic religion.