I don't necessarily disagree with your take, but I take the same concept and run it one step further up the chain as an indictment of government as it is practiced today.

For example, we gave the responsibility of arbitrating disputes in a just way to a single monopolistic entity and then become surprised when this entity provides less justice (harsher sentences for drug crimes, racial/gender bias, etc.) for a higher cost (effectively impossible to represent yourself, lengthy trial periods, arbitration process that take so long and cost so much that 'lawfare' is a common parlance).

Monopolies are bad full stop. It is simply harder to replace the governmental kind.