I broadly agree with your post, however, the "Unrestricted competition" as you define would only work in a vacuum. Company growing too big is creating restrictions for other companies - from being able to lobby government to increase regulation of the area they operate in, so that the barrier to enter the market is getting set higher and higher for new companies or ensure that the tax system is limiting the growth of companies that could in future become a competition. Other examples I can think of is when a big corporation is buying up the entire supply of parts that other businesses need to build their products. So a single whale move can wipe out entire sectors (that's how chip shortage is affecting small and medium business). So your definition of free market for me is like a great function that works very well, but crashes under edge cases.