It wouldn’t. It would encourage more competition and innovation in more areas than this legislation does.
No, the opposite would happen as it would force companies to have to create new OS and hardware in addition to whatever new or innovative product or service they were developing. Competition and innovation would be very much negatively impacted.
Imagine, for example, if every phone maker or phone carrier had to create their own cellular network in order to market their products. Many phone makers, including Apple, probably wouldn't have even bothered to try to develop a mobile phone. The MVNO market wouldn't even exist.