Regulation often does more harm than good, and I'd agree with you if intellectual property didn't exist. Apple's entire business model rests on copyright and patents which make it impossible for competition to challenge their position. (Think about the products which would emerge if people were free to reverse engineer, modify, and redistribute Apple's technology.) This artificial advantage comes with a price, and that price happens to manifest as regulation by the same entity which enforces its ability to make its insane profits. If the government thinks they've taken their artificial advantage too far, they're ethically free, or even obligated, to artificially limit that advantage.