I woukd say it’s even worse than that: Free Market only works if humans behaved in a certain way (the so called homo economicus) which has long be disproven by Behavioural Economics and in Markets with low barriers to entry (i.e. teddy bears or soap, not railways or internet service provision) and even then it can’t deal will systemic problems (basically any Negative Externality such as Polution or Greenhouse Gas emissions, or over consumption of share resources - a.k.a. Tragedy of the Commons - such as with overfishing or in depletion of mineral resources).

People have been fed by politicians and think-tanks with shaddy funding an oversimplified theory that sounds amazing if you do not at all dig into the details, whilst not actually working in reality, not even close, but of course you’re never be told that by the people who win the most from the system built on top of this theory.

(It’s actually funny how this is the Capitalist mirror of Communism: beautiful high-level theory, never worked and can’t work in practice - because people are as they are, the physical world is as it is and human systems work as they work - and the people whose priviledges come from the system created to implement said theories will never ever tell you they don’t work and never will even after a half a century experiment: in fact they’ll just tell you it’s only not working as expected because it has not been done with enough “purity” and hence we need to double-down to make it work)