This is not a personal opinion of mine, it is pretty much established science. I think only think-tank backed sources would claim the opposite.

One should understand the phenomenon as a common pattern of dynamics in unregulated markets. Not every snapshot will showcase an end state of monopolist dominated markets.

You bring up a valid point though. Regulatory capture is a indeed a weapon in the hands of anti-competitive players to prevent incumbents. Good policy usually applies differently to different strata: the small players are exempt from certain rules, or have to deal with less stringent ones than big players do, to prevent killing the market. At the risk of sounding like an llm: it is not just about policy, it is about good policy.