There is no such thing as competition. As soon as a business does something that sets it apart, it’s immediately hounded by business school people who want to profit off of lowering standards and raising prices.
It’s why everything is so expensive and wages are trash. The whole point of going to business school is to ensure that businesses are always doing the bare minimum while charging the maximum people are willing to pay.
Blame Reagan.
A big part of deregulating banks back in the 1980s was shifting away from expensive manufacturing to cheap financial services. Instead of investing in bringing US factories back, Reagan’s polices sent the actual work overseas and left management here.