It seems to me that it's been proven over and over again that market pressure has insufficient power to ensure consumer safety or product efficacy. That argument is often a tactic to blame the victim for corporate malfeasance or carelessness. For example, you should actually look up what happened to the woman who spilled McDonalds coffee on her lap instead of believing all of the '90s sitcom jokes about it.

A powerful government is needed to check the power of corporations and there need to be consequences for the corporation and its leaders which cause actual harm, so they don't just treat it as another cost to their business.