Most "objectivists" are intellectually unoriginal. They've taken Ayn Rand's philosophy literally because it sounds good to an adolescent mind and is illustrated with reasonably well-crafted stories, not on any actual merits.

One of the most obvious failings of objectivism is that it doesn't even make sense on its own terms. Ayn Rand's "productive elite" had a mix of artists, intellectuals, scientists, and business people in it. Yet objectivism as usually deployed is nothing more than apologism for the existing, status quo, corporate elite: one that houses few intellectuals and no artists. Ayn Rand conflates economic and intellectual excellence despite loads of evidence (in the society we actually have) to the contrary.

I would actually prefer socialism to corporate capitalism driven by private-sector social-climbing and bureaucracy. Socialism may tax the most productive in order to feed mediocrities. Ok, fine. Guilty as charged. But the status quo in America is to have mediocrities in positions of incredible power and influence and that's worse.