That doesn't mean the character of an economy that is dominated by public ownership is capitalist, either, just that it is on the "socialist road," ie it is socialist, and working its way to higher levels of socialization until communism is achieved.
This is the crux of the disagreement between anarchists and MLs. I would argue that state ownership - if the state does not adequately represent the will of the people - is not public ownership. A hierarchical state with a flawed and bureaucratic democracy that is prone to corruption inevitably creates and maintains a class of bureaucrats with social, political, and economic privilege. The state - in order to preserve itself - maintains a monopoly on collective ownership, preventing workers from organizing on their own terms.
This is what anarchists mean when they call something "state capitalist." They are arguing that the state itself is a private entity pretending to represent the will of the people.