I was against all regulation and IP at some point, and yes, in such a situation MS would have much less power, because nobody would buy, say, Windows, only pirate it. Similar with many other products.

But the next best thing is to split and regulate the crap out of Apple, Google, MS etc.

But then the question arises:

When, say, regulators split AT&T, they did have some understanding of what they were doing.

Today all these companies are dealing in things which most lawmakers are unable to comprehend and won't ever be able.

So maybe the way to deal with this all still is in aggressive action against IP laws, and not in anti-monopoly regulations, simply because there's no way socially to make the majority of people - the pool from which lawmakers come - understand what exactly they are regulating.