Cambridge Dictionary: A cartel is a group of similar independent companies or countries that join together to control prices and limit competition. It involves restricting output, controlling prices, and allocating market shares.
Group of similar but independent companies (check) that join together to control prices (no, but they do join together to control the web in other ways), and limit competition (yes, by constantly adding features to HTML whilst market dumping they prevent competitors from arising). It involves restricting output (not in the literal sense, does apply if you consider the synchronized way they implement standards), controlling prices (yes, forcing them to zero instead of the natural market rate), and allocating market shares (yes, if you consider iOS browser restrictions).
If other browser outbids Google, the members of your "cartel" will shift to them.