
Liberalism is not fully mutually exclusive with regulation, but liberal regulation is to try to maintain capitalist markets against their own failures. Yes, they can be willing to engage in some regulation to try to maximize future markets and capitalism. But they are pro-oligarch and pro-inequality, liberals are trying to maintain it long-term even if the most extreme excesses of oligarchs must be reigned in for the short term.
But most importantly, Oligarchy and monopolies aren’t an “upset” or disruption of markets, but the obvious and natural outcome. Profits are optimized by consolidation and removing competition. And even if competition is maintained, once one company wins the competition there is monopoly, and the fact that most capital intensive industries have a natural barrier to entry (it would take billions of dollars of venture capital to enter and be a very weak competitor with the incumbent) means that markets have oligarchy and monopoly as their natural and necessary outcome.
A homeless guy can’t just immediately become a billionaire by saying that there should be a competitor of genetic testing with 23andMe.
Capitalism is pay for play. Literally, if you have enough money to invest in capital, you don’t have to work and should continue getting wealthier by already having money. Capitalism and markets are not synonymous.
Liberalism and capitalism is pro-oligarchy. By having money and capital, you get to decide how labor is allocated, what society produces, and the ability to discipline the populace through capital strikes, if not much more direct methods like lobbying.
Liberalism is not anti-oligarch, they would just prefer the paperwork is filled out properly, so it is technically lobbying and not bribery. Elon Musk was an oligarch LONG BEFORE DOGE, and liberals loved him before he was vocally pro-Trump. Liberals loved him because he became the wealthiest man on earth by his “innovation”, and only hated him, not because of his weird unhinged bullshit which existed long before, but only after that unhinged weirdness was pro-Trump.