In theory, no one objects to competition. It fosters choice. It lowers costs for consumers. It stimulates innovation. And you don't need to have price regulation in a competitive market.
Competition also creates risk.
Some people who compete are going to fail. Competition will happen. The debate about competitive issues is really a debate about when it will happen, and for whom. It will come faster, of course if we have rules that favor competition. Such rules would allow competition as fast as technology and financing allow.