I think so. Binance is monopolizing the market. Although they develop very well, the fact that no competitors compete will make Binance easily control the market.
So what do you want to have them do, they fold their hands and do nothing for other exchange to pick and then give us an imperfect system?
My own understanding of monopoly is that they are usually backed by government when it comes to business, and government are the ones that do not give much chances for other companies who are capable of competing to try but in this case, this exchange is not being controlled or approved by anyone, we are still, the one giving them the power because without us, there will be no Binance?
Then if I may ask those who are using Binance, what made them chose Binance, is it because someone imposed it on them or they chose them willingly, which I believe that most of the users chose to use them willingly, so what do you call monopoly here.