There is no competition because the certification process for an aircraft is so difficult that only the largest companies can do it.
They didn’t do it because of comercial reasons aka money in their pockets. Airlines were happy not having to do more training, they were happy, stock holders were happy, everyone was happy!
The regulations are so heavy and complicated that the best path to profit is to just capture and manipulate the regulators. Which only the biggest power players can do.
So there is effectively no competition allowed here. That doesn't serve the public well at all. We should like to see a market where many more new aircraft companies are popping up with new designs to prove out. Safety as a top concern, yes, but also a path to profit that doesn't have to involve cheating the system.