I recall reading a quasi-debunking of this. I didn't go down the rabbit hole far enough to understand all the details, but it seems the situation was more complicated than just corporate greed. [1]
The topic has been discussed here in the past a few times, including [2] and [3]
The topic has been discussed here in the past a few times, including [2] and [3]
1: https://readmedium.com/en/the-phoebus-cartel-was-never-reall...
2: https://news.ycombinator.com/item?id=21596792
3: https://news.ycombinator.com/item?id=17606748