Historically, yes....but that's breaking down due to tech advancements that were faster than the regulated providers could keep up with.
Well, let's start with historically.
You seem to be suggesting to me that regulation will prevent oligopolies -- and lack of regulation will lead to them.
How do you explain how a regulated industry came to be an oligopoly -- and, not only that, but one where consumers could never get the one thing they most begged for?
So what's breaking up their historical stranglehold? Something that is outside the purview of the regulators -- namely, OTT. Do you think they like that...or would prefer things stayed as they were?