A free market is a distinct concept from a perfect market. You’re describing a perfect market operating under ideal conditions.

The free market is a theoretical model assuming perfectly rational actors acting on perfect information and it is indeed ideal within those assumptions. The issue is that it's not realistic. Real-world markets can be brought closer to the free market ideal by regulation. Don't let those laissez-faire fucks confuse you what they're peddling, by equivocation, is unregulated markets which are the complete opposite of free, what they want is institutionalised market failure.

Next time a "free market advocate" shows up on your doorstep, tell them to give you all their trade secrets so that you have better information about everything, it's what they want, after all.