Rand Simberg wrote:

it's not in the interest of existing
providers to reduce costs.

That's true in many industries that still see cost declines.
The actions of each player are to their own advantage, not
to that of the entire industry.

What's needed to make this happen is enough competition
that collusion isn't practical, and lack of market fragmentation
due to political constraints on suppliers (which, in effect,
creates smaller monopolized markets.)

Paul