I detest the word and have never used it.
In the context given above (and elsewhere) it has a strong flavour of exploit, or take advantage of that seems to be missing from the discussion in TT's link. I find that surprising. I always thought it was an essential part of the meaning.
I also thought the word was used to illustrate the way industrial holding companies often control companies by holding small active percentages of the shareholding, and thereby acquire similar small active, and thereby controlling, shareholdings in larger companies, and so on. At the base of the pyramid a small nucleus of ownership can dominate some very large companies, maybe even apparently competing ones, and thereby stifle free competition.
I don't think it means that here. To dominate or to control seem to be the simpler synonyms, with no prejudice as to how that dominance is maintained.