How do you think any other system would work. At least we get to vote with our wallets about which companies should live or die, it’s been working pretty well. At least greedy people will treat us well to get our money. Other systems select for people who love power, and they tend to not be kind once they get it. Fear is a pretty effective way of keeping people in line.
Even if it's the least bad system, you shouldn't close your eyes to its downsides. And not all your assertions are always true.