China is hyper capitalist for executing billionaires and regulating the shit out of businesses deemed harmful for society?

The point of Deng's reforms were to avoid getting killed in the crib by the west. Take their money and productive capacity in the short term to prevent them from couping/bombing you, and then when you've finished eating their lunch, you can do a socialist rug pull. Will it happen? Remains to be seen - but as for the capitalism, there are positive indications of tamping down on it. The anti-corruption purges are a great start. They rooted out many opportunist elements within the party, put the screws on capital and reasserted party primacy, and got the party back on track as a principled organization with serious cadre all around. That's a positive development and puts them in a stronger position to manage a transition to a worker's state when productive capacity and geopolitical conditions favor it.

In addition, some industries are being heavily restricted and reformed to prevent bourgeois saturation. Take education for example; foreign and private schools were rampant profit making/status manufacturing machines in China. These have been all but eliminated as for profit industries due to their misalignment with socialist development. This is just an example, not an exhaustive list.

Better that what your flavour of socialism is offering.

It's not in any sense "hyper" capitalism to begin with, it's a limited form of capitalism while the working class maintains political control via the CPC and the stage maintains ownership of the commanding heights of the economy, for starters. And since the CPC has made good on pretty much all of its stated goals (usually ahead of schedule) and consistently improved conditions for everybody in the country for decades on end, what reason do I have to doubt their process?