Societies self-govern and create structures. Some of those structures are companies, some are government. Sometimes the government regulates companies, and sometimes companies regulate the government.
Edit: even in the US for example, ONLY the judiciary is concerned with defending individual liberties. If that's all that's necessary then we wouldn't need elections, just a military and that's that.
You seem to heavily discount the amount of work it takes to become post-scarcity - most societies in the world fail to achieve this, even for simple things like cell phones in 2021.