Yes, ISP monopolies are still a problem w.r.t. price and quality of service. But VPNs stop the ability of ISPs to snoop on and sell your data, which -- in a perfect world with ISP competition -- market forces would prevent. So VPNs can take the place of market forces for one of the bad things that arise with ISP monopolies, namely the one that the House just enabled yesterday.
VPNs do that so long as ISPs don't inhibit, block, deprioritize, or charge extra for traffic that isn't over known protocols that they can mine for salable data; which, given that the same political actors that oppose the FCCs Privacy Report and Order also oppose the Open Internet Report and Order that prohibits that action means that VPNs may not long be an effective mitigation of the policy problem, because of an intimately linked policy problem.
VPNs are a strategy for mitigating an individual's exposure—leaving the monopoly of the ISP intact.