Wasn't Bell Labs this in the past? It existed alongside public research institutes.
Claude Shannon's paper that kicked off the entire field of information theory was published in the Bell System Technical Journal.
I share the thread's concern over this much centralization of power, but it is worth mentioning that private-sector pure research isn't exactly new. In fact it feels like we had a lot more of it in the 1900s, maybe it's good that it's at least getting revived a bit.