I see corporate entities as an organism, they will all inevitably die if they do not change and evolve, because the enviroment they operate in changes. If the corporate entity survives half a century, it must have evolved several times through several business cycles. So, it is already a different organism, the old entity is in fact dead and consumed by the new entity.
This is a good analogy. Any company that is not able to embrace chance based on the changing marketplace will eventually fail and it's assets will be taken over (purchased) by some stronger entity.
What the OP is advocating for is the stronger entities to be forced to be killed after x number of years and the assets be "donated" to the weaker companies. This would clearly be a great destruction of wealth and a bad idea