Leftists love to constantly try to poke holes in markets, showing how "imperfect" they are if they show any signs of "monopoly", accumulated power, "asymmetric information", or any other number of economics buzzwords.

So I'm going to play the game the other way: here is an example of a lack of intense competition leading to the world getting better innovation than it otherwise would have in a more balanced market: hardware-based, real-time ray tracing technology!

If AMD had been neck-in-neck with Nvidia, there is no chance in heck the latter would have taken that risk-- what became the RTX 20x0 line would have simply been more of the boring old same: using the silicon budget just to push higher framerates. Instead, Nvidia's execs said, "Because we have a bit of a lead, why not try something different?"

Of course, there are lots of other examples of "imperfect" markets providing phenomenal services and prices to consumers: in fact, these markets are "imperfect" because one player has done such a fantastic job! One example which comes to mind immediately is Amazon: where else can one buy pretty much any consumer good, for the lowest price around, and have it arrive on his doorstep by the next morning?

The end goal isn't to have competition: rather, it's to have good and innovative products and services, at low prices. Those goals can and are almost always achieved by diverse sets of market conditions, no matter how "imperfect" they may appear to "equality means everyone has the same stuff" closet-or-otherwise Marxists.