Not necessarily. It is tyrannical by design. What right does the state have to confiscate your property claiming you have no right to "control the means of production?" You invested your time, your resources and your abilities to create that "means of production." You have no right to that? Someone who invested their time and resources to getting drunk in a bar has as much right to your resources as you do? That's both the theory and the reality. When beloved Fidel Castro died, his family was worth almost a billion dollars. Hugo Chavez died a multi millionaire. Maduro was said to have personal wealth approaching a billion dollars, while the common man starved.
The history of a mixed economy is not good. If you make a bad decision for your company, you have to get the resources to keep things afloat (for example, relinquish full ownership by taking on a partner or investors) when a government entity fails, the government just pours tax dollars in to cover their mistake. If a business fails and goes to bankruptcy, the assets are sold, and other business owners generate income from those acquired asset, it's not a net zero. When the government fails they keep the failure alive with tax dollars.
Not a direct example but look at the Selective Service for a government example. When was the last time we had a draft? March 12, 1975. Mandatory registration continued but our armed forces have been volunteer since then. What is the government response to this no longer needed agency? (2017): employed 124 full-time civilians, 56 part-time civilian directors, 175 part-time reserve force officers (in peacetime), up to 11,000 part-time volunteers with an annual budget of $31.3 million (FY 2024).
Young men no longer have to actively register, it's all done automatically with computers. All this for something we haven't relied on for over 50 years.
We constantly hear, communism doesn't work because it hasn't been tried in the right conditions. If capitalism doesn't work, it's because it hasn't been allowed to function naturally since Woodrow Wilson.