This looks more like simple corporate incompetence. They never should have made those very expensive acquisitions.
Subsequent events show concerns of monopolization were misplaced.
That's not the point parent is trying to make either, but FTC was supposed to prevent detrimental anti-competitive and monopolistic behaviors, which that very much was.
The FTC's role is to block mergers where the effect "may be substantially to lessen competition, or tend to create a monopoly." Merger review by design is predictive.
"Embrace, Extend, Extinguish" isn't applicable at all in this context though?