Yes, objectively the managing of production for profit has benefited the world in some very real ways, but there are irremediable contradictions in this system that harm the world in other ways. Production should not be for profit anymore and for that to happen production must be in control of the producers not the profiteers. Its about going forward, not back.

Of course. Capitalism is a useful tool, because markets are the best known tool for facilitating economic growth.

However, capitalism is in itself an inherently broken system: because of the nature of capital, a perfectly capitalist society will approach a state where one actor owns everything, and everyone else owns nothing. As such, all countries practice a form of mediated capitalism: market functioning is limited by governmental action. Certain markets are not allowed to exist, while others are managed via regulation.

There is no inherent reason why capitalism cannot be adapted to preserve the utility of markets while simultaneously eliminating poverty.