The first word of your response belies its incorrectness. While you may end up being right, the situation is anything but “simple”. There are plenty of Monopolies that were taken down by innovation in the last 20 years. Monopolies are not autocrats. They do have lots of power, but they’re not invincible, especially when it comes to innovating.
And which monopolies were replaced with a good competitive landscape. Nobody is saying innovation can't replace monopolies, just that they are more likely to be replaced by another innovative monopoly rather than several competitive businesses.
