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The argument about drugs is a strawman. Yes there is a 'D' in FDA, but there is also an 'F'. You are also making a false assumption that consumers know what's good for them and what to intake or avoid based on "real health study information" - and this is why the FDA exists in the first place. If there are issues with it performing, that doesn't mean tear it down (that would be a disaster).

Please read about "The Jungle". (Wiki: https://en.m.wikipedia.org/wiki/The_Jungle).

Relying on companies to compete on the basis of maximizing customer health is... short-sighted at best.

Right, I was gonna say, didn't we literally try this? And decide that it was a mistake? And come up with the FDA in response?

That is quite possibly the most short-sighted response to this topic. Few would read it, and no company would offer any kind of information that is actually conclusive.

Expecting the free market to do anything except optimize for profit is silly. And yes, that is profit at the expense of people's health.