That's still an extremely blunt point. While we can imagine some alternative world where we all live in a communist utopia and the internet is the great free place it was in its early days, it's not so easy to build such a society. All the attempts I'm aware of either didn't scale (small, local communes) or were large-scale disasters resulting in the deaths of millions.
What we have now is no paradise, but it's not a disaster either. It's balanced on the razor's edge of disaster, however.
I'm assuming parent-poster means "publicly-traded corporations with limited-liability and low friction on transfers of ownership."
However you're right that "capitalism" encompasses many potential different varieties and actors. For example, family-owned businesses are equally "capitalism", but they don't show up much in this kind of product-degradation story.
For example, family-owned businesses are equally "capitalism", but they don't show up much in this kind of product-degradation story.
Family owned businesses can be sold to private equity just like any other. Instant Pot was a family owned business started by the inventor and it was famously sold to private equity who then proceeded to raid its assets and bankrupt the company.
In contrast, I've never heard a complaint about a previously-respected product run by a private-equity firm that became ruined after it was taken private by a closely-held family business.
"then the MBAs got involved" is a cop-out, it's a systemic issue.