Ford's vision wasn't that much better. Old school manager controlled companies only work if the people in charge are great like him with big plans and the skills to realize them. If the CEO is just average it will end badly, and if they good but retire or die in office their successor will probably be worse.

And it's extremely vulnerable to bad ideas that get amplified by wealth and power, like Ford's antisemitic paper that inspired the Nazis. Putting one person in charge of everything is never good. The best outcomes come from distributing power as widely as possible to people who are affected the most, aka worker ownership.