It is one person who controls it, at his discretion who gets to share in the utility. What your saying can also be true without such an ownership model, right?
As Aristotle said, all forms of government have a good form and a corrupt form. A just king can be highly effective and create human flourishing but a bad king is highly destructive. A good democracy and tyranny of the mob majority are equivalent. We need checks and balances in all forms of human organization. SpaceX has no checks or at least is on a path to where there will be none.
Elon recently said, if his plans go as expected, SpaceX will be more valuable the earth. And he is right. How is humanity going to have checks and balances when that happens?
Or if not, what am I missing?