It is authoritarian. Communist system devolve to authoritarianism because it is a natural progression (easy to do). Socialists can, but a good democratic political structure makes it harder.
He said Capitalism, not Corporate Capitalism. Pure, unfettered Capitalism leads to the same place facism, communism, and feudalism go.
The issue is “unfettered”. Regulations enforced upon the operation of the markets, maintained by rule of law, enables achievement of greater agency and success upon much larger parts of society.
People understand they can prosper from creating real value, which pushes society toward greater advancements to quality of life and enable more individual freedom than any prior economic and political system.
Kill the illness, not the patient.
Profiteers foregoing the largest source of profit? Not likely.