This is sadly an inevitable consequence of a market after growth-through-innovation as ended. Competitive pressure and the need to extract profit means every millimeter of slack in the system is used or eliminated. As this happens, the system becomes more and more fragile.

And when the system has crises, they do not spur some kind of extra capacity or sane response to the crisis. Instead you get consolidation, gouging and further crisis.

This is especially true, and especially hard to remediate, in a highly international market where regulation cannot effectively be imposed.