Monopolies have a really bad rep and sometimes when you mix them up with a ripe pinch of capitalism you don’t always get good things.
While people sometimes suffer when a company has a monopoly, it’s actually great for the company and everyone in the long run.
A company with a monopoly means it has higher margins and having to spend less on marketing and fighting off the competition, this means it can spend money on R&D, pushing new technologies forward.
A competitive market hardly sees any innovation or forward-thinking. Low margins in that market mean all management thinks about is pushing volume just to stay afloat, thus in the long run the people lose.