Hyper-restrictive copyright and network access laws (coupled with aggressive interpretations a la the RAM Copy Doctrine) are the key overlooked components that have allowed the net to devolve into a giant AOL-Keyword-ized walled garden.
Fix these laws (which doesn't necessarily mean abandoning their core concepts) and the floodgates will open with fresh competition. This is never discussed because these legal mechanisms undergird a massive part of the tech and media industries. It is better to fix the anti-competitive mechanisms at the source than to use the anti-trust kludge to break down people who have simply exploited them too well.
Underlying driver for this is that an unregulated market favours economies of scale and network effects and therefore trends towards monopolies. This is particularly pronounced and accelerated on digital platforms.
Fix these laws (which doesn't necessarily mean abandoning their core concepts) and the floodgates will open with fresh competition. This is never discussed because these legal mechanisms undergird a massive part of the tech and media industries. It is better to fix the anti-competitive mechanisms at the source than to use the anti-trust kludge to break down people who have simply exploited them too well.