Oh very much it is. Come to the lovely Eastern Europe and see for yourself how good national owned companies are. Full of useless bureaucrats put there to ensure voters so the ruling party can continue ruling. Also in huge debts which are paid by more taxes so the working people pay for the lazy.
Unless the human race somehow chains itself to selflessness, nationalization + democracy is a sure way to destroy any organization. Now privately owned is not much better but in theory can be replaced with a competitor. Not so much for a national organization.
Source: Living and suffering daily in Eastern Europe.
Privatisation of the British railways was a disaster, and the creeping privatisation of the National Health Service is a disaster in the making as well. As far as I'm concerned, when we're talking about well-understood, national-scale services, private sector almost always starves the service out of greed or is outright incompetent.