You know I think you're just in general misunderstanding how socialism should be run because I did that, too.
State run socialism will end up there. State run socialism will do exactly what capitalism does now, to the poor, to the earth, to the vulnerable, etc. Gulags and a legacy of environmental horror happened because the soviet union was run by people who thought their own short term gain was worth thousands dead. It ended because of bureaucratic incompetence and the worst porcupine syndrome in history.
But I mean, at the same time, the US is the richest country on earth, but also the most right-wing. We have no union rights whatsoever and it manifests in shit jobs forever. It's Bezos being the richest man on earth while the people who put him there work 55 hour weeks and pissing in bottles to meet targets. Buildings and rivers catch fire because of refusal to regulate them. Our climate is changing and our president does nothing to address it and goes out of his way to hurt abilities to fix it. Our life expectancy has slipped. Our rent goes up and up and up and quality of housing goes down. And then what? How do we benefit? How do we win? How are we moving forward?
You mention corruption, but a system where companies die simply because they were unable to get the required capital to survive is essentially based on luck, and I'd call that corruption. I understand where you're coming from, because the idea is that incentive systems will produce efficiency. But the problem is at the margin -- someone with more money than you has power, and they're going to use that for personal gain.
And eventually you realize that no matter what you do, you're never going to be rich. You might make $500,000/year and have multiple houses and you'll be in fucking poverty compared to Gates, Bezos, and the like. And that's the height of your hopes! The height of your hopes, if you play all your cards right, and get lucky, is to be third rate at best.