Everything you described is just capitalism.

Governments have never “just let business fail” because under capitalism and its drive to consolidate and monopolize, the government will become an arm of corporate power. The weak and corrupt politicians are by design. The corporate welfare is by design.

This has been been seen throughout the history of capitalism and is the logical conclusion to its processes and theories. If you have a system based on infinite growth and profit seeking, the system will always devolve to exploitation, monopoly, and government control. Why? Because it’s profitable.

The very foundation that corporations working in their self interest will be a benefit to society is rotten, and has been shown to never work time and time again.

The only progress we have seen has come from public endeavors, independent actors, and the people. Never corporations. Only thing we get from corporations is 35 different types of Oreos and 20 different types of toothpaste all owned by the same company.