It feels like it has always been moving towards an oligarchy. For decades companies have been lining politicians pockets so why not save that money, effort and time and simply cut out the middle man?
Probably the fact that the politicians hold actual power of force, control of ownership, etc. Nobody alive today in a first world country has lived to see what happens when their own government's blood is up. Prigozhin had a personal army and he still got blown out of the air.
If the MI6 chief believed what she was saying, she wouldn't be conducting a press conference.