Looking at Amazon, Aliexpress, even Walmart, there’s a lot of products that aren’t what they claim, such as lying about the capacity of batteries. Customers have to figure these things out for themselves and ‘metagame’ the system.
I don’t think this should be allowed, but what are your thoughts?
Maybe.
One option is a proactively regulated market where only companies pre-approved by the government can sell anything, and every product must be checked and approved before it’s offered for sale. Such a market won’t have many fake products, but it also won’t have much competition or innovation. It’s also very likely to attract corruption, where the government conditions approvals on unrelated behavior that the current leadership prefers or requires bribes to do business. We’re seeing the former in the USA with the Trump administration for certain types of businesses, and it isn’t pretty.
The current situation for most product categories is a reactively regulated market. Deceptive practices are illegal, but enforcement depends on someone noticing and reporting them. More deceptive products make it to consumers, but more groundbreaking products do as well. It’s hard for government officials to blackmail most businesses.