They've been pretty efficient in squashing any potential competition because of that weak regulation, yes. Don't confuse it with competing on the merits of their products.

Why hasn't strong competition arise from well-regulated EU? Where are the superior European products? I'd gladly use them.

These are effective monopolies competing to become super monopolies - the period leading up to dominance by one or two is beneficial to consumers with freebies and cheap offers that also completely lock out any smaller players.

If you don't let such things develop in the first place then there's not enough money to round out and scale the product. So if we want world beating products we may need monopolies but we can nationalise them in the same way we nationalised big infrastructure in the past. Then at least we're not the tail wagging the dog anymore.

You do. ASML, ARM, Linux (originally), Spotify, Logitech. Novartis, Astra Zenica.