Exactly. This is why the European single market is so regulated. Not because it is a socialist market, quite the opposite. It wants to save capitalism both from itself and from the protectionism of its states. The European project is a deeply capitalist project.
Imo markets tend to have 2 trajectories. Either the market leader builds a moat that precludes competition (often through semi-illegal means).
Or the companies engange in fierce competition and the big players will either outspend or outproduce or straight up buy their competitors which tends to result in either monopolies or oligopolies with barely any competition.
This is when the enshittification begins.