I highly recommend reading Schumpeter, both "Business Cycles" and "Capitalism, Socialism and Democracy".
He discusses how motivations fundamentally change after profit margins peak and argues that profit after this point necessarily produces less economically efficient processes (in terms of the flow of demanded goods and services, not the shareholder, who does receive further productivity gains). In this context, undesired market advantage (legal or illegal) is just a symptom of profit, but it can be analyzed like any other sort of inefficiency. The core prescription is to nationalize the process or otherwise remove the profit motive around peak profit (which is, to be clear, not always easy or possible to identify... but in the worst case, this would open further opportunity for private capital to invest in the next generation of improvements).
He also discusses how failed investment cycles can resonate into market crashes faster than capital can rationally reallocate. Both of these above observations seem very very relevant to our current situation in the US today, and should cause everyone to look askance at people who aren't concerned about how healthy our political economy actually is.
> fundamentally undermined by science and technology creating a new market that upends the old one.
The kicker here is that there's no reason to expect either to continue yielding the same rewards. Some industries have projectable, plannable, investable growth patterns; others do not. Almost all the industries with predictable growth rely on consumption driven by yields from the lucrative exploitation of frontiers, mostly technological recently as you point out. I suspect that the market is going to get incredibly volatile as capital sees this frontiers dry up and adjusts expectations. ideally by cannibalizing itself and not eating us, but it might need a little help in that regard....