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I think it was the gas price wars that led to many of the state predatory pricing laws.
The major oil companies (Standard Oil, Exxon, etc) colluding to lower prices to below cost in selective markets to drive out the independent stations and to squeeze their own franchisees. It may have been good for consumers in those markets, but, IMO, blatantly anti-competitive practices are not part of a "free market" economy.
Predatory pricing is difficult to prove which may explain, in part, why there are so few cases. But when it is evident, I'm all for holding the "big boys" accountable.
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"The perfect is the enemy of the good."
~ Voltaire
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