Yes, have a market-based legal system (a set of laws that are established via continuous market evaluation) instead of a politics-based legal system (a set of laws established by decisions made via a political system).
Or we could just make the oligopoly explicit like whatever it is you are proposing.
Second point: the market-based legal system will not devolve into a system of ineptitude only if the money used in the market system is sound and free from political control, which we currently do not have in the US.