I agree with you that the modern corporate world seems to be allergic to anything that doesn't promise immediate profits. It takes more than a monopoly to have something like Bell Labs. To be more precise, monopolies tend to have the resources to create Bell Labs-style research labs, but it also takes another type of driving factor to create such a research lab, whether it is pleasing government regulators (I believe this is what motivated the founding of Bell Labs), staying ahead of existential threats (a major theme of 1970's-era Xerox PARC was the idea of a "paperless office," as Xerox saw the paperless office as an existential threat to their photocopier monopoly), or for purely giving back to society.

In short, Bell Labs-style institutions not only require consistent sources of funding that only monopolies can commit to, but they also require stakeholders to believe that funding such institutions is beneficial. We don't have those stakeholders today, though.