They are dangerous. But it’s managed.
Centralized power never works. We have the worst times in history to look at.
Nationalization just centralizes to a different set of people. It’s personal ownership or oppression.
We all need open weight R2D2s.
We may all like our own personal R2 units, but if you insist on scifi, instead of tanks, consider everyone getting an X-wing for their commute. Oops, safety on the blaster was off, there goes the neighbourhood.
While I am a (mostly) capitalist and generally disagree with nationalization (including, for the time being, this situation), I also don't think we can say that "centralized power never works". Maybe we scope that a bit. I know plenty of business owners who centralize power in their businesses and they are effective, ethical and it works perfectly fine. In theory, in the US, nationalizing some unit of the economy _decentralizes_ power; the US is, after all, a representative democracy. Trustworthiness of the electorate is a different problem. But I don't think we can generalize much about centralization beyond sometimes it works and sometimes it doesn't. There is a difference between centralizing all power in a given administrative unit, and centralizing certain powers, but that's more analogous to non-democratic units.