That’s only partially accurate (you’re right that it makes markets look more saturated than they are.) A lot of the time it occurs just from simple acquisitions. For instance, InBev has acquired quite a few beer brands, but they don’t consolidate because a lot perform very strongly in their home market, and consolidating them all under a single brand would create far too many skus for any customer to understand, and create confusion.
Yeah, beer producers are the king of collecting brands and forcing them onto shelf space with their other products. Its entire goal is to push out the small competition. Doesn’t matter the quality of your products if it’s the only ones available.