Yes, and? That very “race to the bottom” is what drives progress. Yes, it’s much messier than having a central authority dictate everything. Such is life.

Making a product cheaper to produce without affecting what people care about (or, equivalently, improving the performance without increasing the cost) is what drives productivity growth, and the relentless competitive pressure to do so is what produced the modern world. It’s not fun or easy, and yes, sitting on your ass would be easier. Oh well!