Pretty much every time it's been tried, you get a ton of innovation and rapidly falling costs.
The US, ICC trucking regulation led to much cheaper trucking.
Telecom deregulation led to an explosion of services, cell phones, and drastically lower prices.
Airline deregulation led to a falling fairs, making air travel accessible to more than just the upper and upper middle class (and, because air travel is much safer per mile traveled than car travel, deregulation has saved tens of thousands of lives).
> this is just profit-mongering
Oh, horrors - we wouldn't want people to try to provide services in order to make money!