No capitalist actually wants free and fair competition. A pure free market isn't the most efficient and productive means of making a profit, and they're in business to make as much money as possible.

What gets aspired to under the guise of "free market capitalism" is deregulation of the market in the ways which allow businesses to exploit consumers without consequences, such as lowering of environmental regulations or safety standards, but regulation when it hinders their competitors and lets them entrench their market position. Free market capitalism fails because of simple human nature - greed doesn't optimize for ethics, so neither do markets.

Any ideal system that simply expects people to act rationally and ethically en masse is doomed to fail, which is why capitalism only works when regulated and in the context of a society with strong social cohesion and a safety net because certain things like education and healthcare shouldn't be subject to free market dynamics.