The free market also dies when unregulated companies destroy their competition to become monopolies, destroy the environment and enslave people.
You’re correct in that when companies essentially own politicians and get regulations passed that help them do the above, like the system we seem to have now, then that’s a serious problem.
The answer to that isn’t to get rid of regulations, though. An unregulated free market isn’t going to stop factories from dumping toxic waste into rivers or spewing it into the air. It’s not going to stop companies from paying employees slave wages. And it’s definitely not going to stop companies from using dirty tactics to drive out their competition and become monopolies, as you seem to be suggesting.
A well regulated free market can both reward innovators that come up with new products or services that society values while also protecting the environment and the workers from exploitation, and ensuring healthy competition.
That’s not the system we have now, for sure, but we’re absolutely not going to get there by getting rid of regulations. We need to yank control of the government (and thus the laws) away corporations and the wealthy and give it back to the people.