I know it says that you need to strike a good balance between slacking of and competition, but author spends too much time saying that monopoly is good. It is not. It has never been.
I think enshittification live cycle draws a better picture. I think you can outgrow your initial idea. Company grows until the core idea can grow.
That does not end there. Grow is always expected. When you have perfect monopoly, how else can you grow more? You can diversify, you can buy competition. Creating a new idea beside your core idea often does not pan out. Take a look at google+. How much more can you squeeze out of users? You can enshittify. You squeeze, squeeze users, until your product deteriorates and CEOs leave a shall of a company.
Google does not squeeze users because of competition. It has a ton of money. It could innovate, but they decide to squeeze users. Easy money instead of hard work.