Yes, strong economically powerful companies are a problem.

Or rather, lets say it like this: This history of strong economically powerful companies points to them being problematic for democratic societies.

Why? Because the stickier the product, the more "powerful" the company, and the more likely they are to do things like regulatory capture and exert significant control of democratic levers.

Make no mistake that corporations are political entities and are not-neutral in that respect. So the bigger the company, the more they can exert influence well beyond their ability to provide goods/services.