EDIT: I reread the comment above and realized I did not adequately address it and I had misunderstood some of what the commenter was saying. I revised my answer below:
I disagree that we necessarily need to have synthetic fertalizers, pest control, etc.
There are a number of methods from permaculture that does not require synthetic fertilizers, weed killers, and pest killers. The whole site is analyzed together and designed in a way there there is a cycling of nutrients back into the soil, or amendments such as biochar or mycological growth help with that. (Synthetic fertilizers actually deplete soil fertility in the long run, so you have to keep adding more and more with every cycle). Interplanting, plant guilds, and "integrated pest control" (chickens, duck, goats, and developing habitat for the pest's natural predators). The maximum yield may be lower, but designing a site this way accomplishes two things. First, it is far more resilient than the industrial agricultural method. Second, it puts fertility back into the land faster than it uses it up, and as such, it has the potential to restore the ecology. These are things people are already putting into practice around the world.
Furthermore, what the Soviet Union had was still essentially value-extraction. That value was distributed in a different way, but it is still value-extraction. It is still stuck in the same paradigm, and arguably worse -- too rigid, too unable to adapt to changing conditions.
A regenerative paradigm does not put profit first, but it doesn't necessarily dispense with it either. (In the permaculture community, that is the third permaculture ethic: Fair Share). It is as decentralized as a free-market, but is not centralized like the way capitalization tends towards aggregation of resources. One key difference between a regenerative paradigm and the value-extraction:
Free-market is driven from profit motive, the selfish actor.
Regenerative living is driven by individual's own sense of what value they can contribute to the greater whole, and developing their own personal capabilities in order to accomplish it.
So one is a value extraction and the other is a value generation or value adding (not to be confused with "value-added", which is something from the value-extraction paradigm).
Even if we were to say, ok, this regenerative paradigm works, and let's shift to that, it is not something that can be done through policy changes.