I'd tend to agree. But the private sector has show an unreasonable effectiveness at improving lots of industries.
Believe me, I don't sleep well at night, knowing you've got to motivate people to generate huge profit, so they can create great companies like Stripe. But it appears to be an ongoing trend.
Even the recents efforts made by GDS or USDS will be overshadowed by new, hip, fintech (and govtech?) startups.