On the contrary, without legal intervention the market collapses into everyone lying all of the time. The famous economics paper on this is Akerloff's "Market For Lemons".
Free market advocates usually point out that reputation markets could arise in these situations. Of course the question is, would they, and would they provide a better force to raise quality of traded goods than regulation?
Well, we can see how that worked with the big tech companies; it mostly works for Uber and AirBnB but problems still get through, and is turning into a serious reputational problem for Amazon.
You can have private organizations certifying things, but then how do you decide which certification to trust? And what's the point, since the certification is going to be tied to the product, not independent?
Unfortunately, sleazebags with no ethics (eg "whatever parts suckers from $$$") outperform ethical people when viewed through the (say) MBA lens.
Thus the proliferation of places lying about everything they can get away with, until they're caught / stamped on.