To be fair, I was using the term “unregulated”, ironically.
“Monopolies are a natural end to an unregulated market” meaning companies, particularly larger ones can easily out-price the newer ones, out of a market. They have the established capital to do so. Also, they have better political advantages as well. They can push for regulations making it difficult for start-ups to continue operating, or even begin. The “Food Truck” craze is one example. The brick and mortar shops found competition from mobile food sources, and used their political clout to push the newbies away from them. That is not a free market.
Libertarians argue that the market will take care of itself, and thus avoid monopolies. Real life, this has never happened.
You either have 100% regulated, or 100% unregulated market. But, even that is a fallacy. How would you make sure an unregulated market stays unregulated?