Not really IMO. Feature bloat, megapixel wars, massive complexity, ever higher prices, limited availability because makers stretch their competitiveness across too many model lines/SKUs, and shareholder profit/margin/dividend demands amidst all of it constitutes an unsustainable economic model.
I think the great myth is that an absence of competition breeds laziness - or at least what the proponents of competition-driven marketplaces refer to as slow/long development and product cycles. But marketplace competition has never given us anything except consumer/retail-driven economies.
Intensely competitive marketplaces drive makers to bring products to market before the products are truly ready.
I think that in a less intensely competitive marketplace the D700 class of camera would have shown up at the same time several years ago - perhaps earlier. I think the D50, D60 and D200 (among other bodies) would never have seen the light of day, and we'd be none the worse for it.
I'm thinking this is the wrong forum for this sort of post. I'll stop.