Privatization isn't bad provided that key corporations are answerable to more than just profit alone. This is the key aspect of a benefit corporation.

A lot of what is wrong with large corporations is that they don't place any priorities on customers, employees, and the environment, when making the most profit is what they are legally mandated to do.

Making a profit needs to be balanced with the reason the company is in business, (i.e. the needs of its customers), its employees, and the environment.