Competition benefits the consumer directly. Free-market capitalism is not equivalent to unconstrained (i.e. stupid) libertarianism--it only works properly with laws/regulations setting boundaries. Laws need to: (a) prevent the abuse of monopolies, (b) protect workers, (c) prevent collusion, and (d) ensure some limited monopoly on new technology to create an incentive for R&D.
There are some industries where the laws aren't working properly or the nature of the industry prevents competition (like cable tv providers)--the competition in electronics works perfectly--what is failing in the electronics industry is the 'laws protecting workers' part.