Precisely. What capitalism was supposed to do, it did long ago and now we’re mostly dealing with mentally insecure people at the top who think more about money than actual human relations.
Capitalism is supposed to ensure that the people that own the factories have all of the power. The current behaviour is core, fundamental capitalism.
It serves the ownership class. It always has. It’s its sole purpose. The rest of us have been supported by social programs that momentarily flared and, in the process, rescued the name of capitalism while workinf directly in opposition to it.