What is the Secure Element, anyway? Has one been cracked open and studied? Is it a random word from a dictionary? A water droplet? An atomic-scale crystalline anomaly? Maybe it's a JJ Abrams "mystery box",,,
Human behavior (as I have said time and again) is individually rational, but appears to be irrational in aggregate, mainly because of rivalrous self-interests at play.If you understand human behavior is based on self-interest, you will understand everything in the history of humanity.
You are not acknowledging the fact that there is competition and there is also cooperation in business. Nothing would prevent businesses from making deals that make sense for both parties, as far as sharing already established infrastructure.