Do you think the term "Libertarian" as it's used in the US is misleading when it calls for privatized tyranny; pure, unrefined totalitarianism?

Because the free market and profit motives don't just give you incentives to innovate, it also gives you incentive to manipulate and crush competitors which is why we need a government to which the people are accountable for to keep the latter in check.
Do you think the term "Libertarian" as it's used in the US is misleading when it calls for privatized tyranny; pure, unrefined totalitarianism?
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