It actually did, solve it, unironically. The concern was that Microsoft was going to de facto take over the HTML standard and make it so that you had to use Internet Explorer and proprietary Microsoft extensions if you wanted to browse the web, eliminating all competition.

Now, more than 20 years later, Internet Explorer is defunct. Microsoft's current browser is built on Chromium, an open source engine that was created by one of its competitors. If anything it's Google that's now the problematic one.