It’s harder to get finance as a co-operative, so it’s hardly a fair competition.

Also, in most studies, co-ops and employee ownership models do actually end up being more profitable and sustainable in the long term [0, 1].

[0] Page 23+ in this UK government review on employee ownership: https://assets.publishing.service.gov.uk/government/uploads/...

[1] ONS report showing the rate of survival of cooperatives in the UK after five years was 80 percent compared with only 41 percent for all other enterprises https://www.uk.coop/sites/default/files/2020-10/co-operative...