Comsidering what I described is how tech companies actually function and functioned in the past, theoretical competition wont help.
They are competing themselves into massive unprofitability. Eventually they will die or do the above in cooperation. Maybe there will bw minor snandal about it, but that sort of collution is not prosecuted or seriously investigated if done by big companies.
So, it will happen exactly as it always happens with tech.
It’s going to definitely be crappy, remember Google in 2003 with relevant results and no endless SEO , or Amazon reviews being reliable, or Uber being simple and cheap, etc. once growth phase ends monetization begins and experience declines but this is guard railed by the fact that there are many players.