What are the advantages of monopolistic competition over modern competition?

Monopolistic competition is good primarily because of its realism. If perfect competition is some kind of ideal model that has hardly been implemented, the monopoly version is already present in real markets. For example, it arises in the field of perfumery sales, an industry in which a limited number of companies are involved. Also, monopolistic competition allows sellers and buyers to be fully informed about the conditions existing in the market and to form competitive prices.