Corporatism has had a hold on the political and legal system in the US since the beginning, just to varying degrees. Shareholder primacy gained a foothold in the 30s and 40s alongside the decay of antitrust law. Prior to that, the Lochner era of cases defined the era of corporate control. The late 1800s had robber barons and oil and railroad tycoons killing people with private police forces. Slave plantations and the vestiges controlled the South, and with it the rest of the country, since the 3/5ths compromise and before. We are just in a new form today with tech companies controlling everything, including the public forum, while SCOTUS green lights everything in favor of corporations, conservatives, and the wealthy, and Congress is absolutely deadlocked. It is definitely a far side of the pendulum swing, and it might be the one we can't realistically swing back from any time soon, but it is well within the political and legal themes of the US historically.