The definition of a monopoly is that it can engage in monopolistic practices. Poaching IP to destroy a small company is very much a monopolistic practice, and has a chilling effect on the rest of the market.
Of course in Apple's case this Masimo story is not the only monopolistic practice.
The correct analogy would be a watch market dominated by Casio and Swatch with no independent smaller brands.
Because every smaller brand that becomes somewhat successful is bought out by the Big Two. Or never gets that far because new IP somehow ends up being the sole property of the Big Two through various other means.
(Technically an oligopoly, but still maintained by monopolistic lock-ins and actions.)
Of course in Apple's case this Masimo story is not the only monopolistic practice.
The correct analogy would be a watch market dominated by Casio and Swatch with no independent smaller brands.
Because every smaller brand that becomes somewhat successful is bought out by the Big Two. Or never gets that far because new IP somehow ends up being the sole property of the Big Two through various other means.
(Technically an oligopoly, but still maintained by monopolistic lock-ins and actions.)