I haven't found academia exceptionally hierarchical in computer science (though I'm not full-time in it at the moment). Even quite famous people tend to be pretty accessible, people take your talks at conferences seriously regardless of what university you come from, etc. There is definitely
some hierarchy, but if anything it's precisely because of the "capitalist structure" you mention, which big universities are definitely not immune to. There are some power differentials especially around money, with grad students needing to work for a well-funded lab to get paid, which gives power to professors who have lots of money (depending on the area, that usually comes from either grants or corporate funding).
In fact at AI conferences, the non-academics are way more hierarchical about academia than the people actually in academia are. Journalists, investors, recruiters, and industry consultants who show up to a conference like AAAI or ICML seem to really care about people's pedigrees, especially impressed by names like MIT and Stanford. Professors are more likely to choose what talks to go to based on sub-area, talk title, or knowing a specific person, rather than going by institutional affiliation.