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I do find it unnerving that a single unelected person can have this kind of power in a democracy.

Profitable?

You just described capitalism

That's just capitalism.

"Barely capitalism" is what "capitalism" becomes without a baby sitter.

The babysitter is always capital itself, hence why it's called capitalism.

Sometimes the babysitter gets distracted or gives in for a while, but it always comes back and it always has the final word.

Yeah I don't disagree. Judging from your other comments I think we both come from the same rough angle. But maybe semantics. The state/babysitter is a product and mostly servant of capital, but capital class obv is not a monolith and it has competing interests within it which in part the state exists to mediate. But the state can also be in part captured or influenced by other interests, so it is a bit of a site of struggle.

In any case what segment of interests are holding the balance of power varies over time and monopolies and bloc interests come and go.