Much as I'd like to believe otherwise, I don't think this genie is going back in the bottle. Ever. There's too much money involved and our systems of governance are too fundamentally corrupt and unreliable to permit that.
Cheating can take the form of: pollution, privacy violations, abuses of human behavior, exploitation of natural resources, corruption, etc. You'd be hard-pressed to think of a single F500 company that isn't benefiting from some form of cheating that is inadequately regulated at present.
Look, corporation etc. etc. are just tools for humanity to deal with complexity. To break it down into parts which we can manage.
IF we had larger brains we would have bigger corporations.
If we were a hive intelligence, we would have different configurations of corporations.
But we would always create a tool to expand into complexity for the efficiency gains or productivity gains we get.
In short - EVERY tool made that gives an advantage moves the system onto the next level of complexity till we fail.
If you have small corporations, then they will band together to become quasi corporations.
It may not be a profit motive but governments' motives are sporadically focused on the public welfare at best.
It comes down to money in politics, where said money is a necessity to maintain an agent position within the system. This motive alone is enough to turn protagonist agents within the system into antagonist agents against the system.
I'd rather we make the government more focused and responsibilities more specific. We need to remove the incentives for throwing money into politics rather than try to play corruption whack-a-mole.
Company: "Merging this and that will benefit the customer." USGov: "Ok, good enough for me!"