And if monopoly means the most number of people choose to use your product because you've produced the best product at the lowest price, then what exactly is wrong with that?

In actuality, there are far more heinous monopolies created by way of gov't regulation than in any other way. Massive regulation is an advantage to bigger dominant companies because it creates large barriers to entry into a market. Some companies lobby for more regulations because it helps them to ensure that others cannot enter the market.

Otherwise, smaller more nimble companies would come along and undercut the dominant company. This is how capitalism is meant to work but in these days or massive government interference in the economy things don't work this way anymore.