Pharmaceutical companies won’t go and release hundreds of dud or dangerous drugs just because they can.
At least some of them would, because there are, in fact, companies that do this in the real world. They simply use a different brand name and call them “dietary supplements” rather than drugs.
The supplement industry and similarly the cosmetics industry is a jarring example of what can happen with no oversight or the wrong kind of oversight. Although, to be charitable to the libertarian position, one can argue that many supplement and cosmetics companies are forced to provide inferior products since efficacious products, even when rather safe, cannot be sold on the free market for various reasons (e.g. higher doses of potassium or retinoids for photoaging).
At least some of them would, because there are, in fact, companies that do this in the real world. They simply use a different brand name and call them “dietary supplements” rather than drugs.
The supplement industry and similarly the cosmetics industry is a jarring example of what can happen with no oversight or the wrong kind of oversight. Although, to be charitable to the libertarian position, one can argue that many supplement and cosmetics companies are forced to provide inferior products since efficacious products, even when rather safe, cannot be sold on the free market for various reasons (e.g. higher doses of potassium or retinoids for photoaging).