New Zealand often seems like a toy country with one of everything. There's the One Bank, the One Telecom, the One Airline.

Not ... exactly. But effectively, yes.

A combination of a tiny population (5.1 millions) and a long way from nowhere (roughly 3,200 km / 2,000 mi from Sydney).

Australia and Canada already have issues from their own small scale (and vast land areas). NZ takes it up a notch.