I largely agree, but would just clarify that the players in any economy, capitalist or not, can be both people and companies/legal entities. The more globally oriented modern society means that any player of sufficient resource can implement multiple, compartmentalised strategies for various aspects of that resource (eg. various taxes, corporate structure, government incentives) under differing rulesets.

If a ruleset becomes too onerous (which there is evidence for in modern settings like Zimbabwe or Venezuela) then a player may decide that the utility of the society is not worth the loss in resource and remove themselves from a game which enforces such a ruleset. In all other cases though I agree completely with your insight.