That's not what I wrote. Firstly, I'm skeptical of the vague idea of "enough" competition, but whatever amount there is does have explanations. Secondly, when I write "generally", it does not mean "exclusively", and I cited two, not one, reasons. The point I make is that if someone thinks there is not "enough" - leaving it to him to define "enough" - there are two common causes that don't require nefarious attributions. One is simply based on the efficiency of the incumbents and might have nothing to do with regulation - some markets just aren't that heavily regulated. The other is definitely founded in regulation.