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 No it doesn't. 
 Do tell  
 The free market doesn't tell you when a company will go out of business. It doesn't tell you when they will discontinue a product line, silently reduce quality of existing products, stop supporting old products...

It doesn't solve any of these things. It theoretically provides a wider array of options, which is good, but it is orthogonal to transparency on the quality of their products. 
 The point I'm making is that competition will always exist