That’s not something that really works with industries that are zero sum games. You can’t have a dozen competing rail companies in a given state because there is only so many paths that a rail system can take, and you need to clear out continuous stretches of land through eminent domain.
If a company provides a vital services and fails, it should be nationalized. If a company does not provide a vital service and fails, it shouldbe allowed to fail and the employees themselves bailed out.
They would probably actually have a decent shot at getting away with it, at least at first.
And to answer your question, it’s because the anger that companies generate by doing this shit ends up turning into piracy. Why would you try to punish a corp for doing this (likely wasting your time) when a cheap VPN and basic tech literacy gets you what you want?
The effort ratios are way out of wack when it comes to digital products. It’s easy to get around digital bullshitery, not so much in the real world where we are all car dependant.