Reduce or eliminate entirely? I'd advocate for the latter.
If they do, the result will be worse, because it will have been because they realized they could hire private security for cheaper than funding public protection.
If you don't like the unaccountability of cops, look forward to the accountability of Pinkerton private investigators.
Maybe I'm part of that "capital class", I'm not sure what that means exactly but I know I'd much rather look after my own affairs.
Because the alternative to public policing isn't no police; it's rich folk paying the interior-territorial arm of PMCs to march around their property with body armor and high-powered rifles, while the rest of the populace sorts things out themselves. We didn't always have public policing, and one can look at history to see what the prior alternatives were.
Not nearly as many as are currently protected by public police. I'm sure we can find a better alternative to the status quo than "Tell grandma she needs a license and some monthly range time." Better make sure we gift her a firearm with low kickback for Christmas; her wrist bones have been so frail these past few years...
But realistically, you could have John Wick levels of combat skill and you would still have yawning holes in your security. You have to sleep and you can only be in one place at once, so there is only so much physical property you can fully protect. Wealthy capitalists outsource their security and mitigate their paranoia by dividing full awareness of their security surface between compartmentalized vendors, each of whom has to assume they're under surveillance by one of the others. If you are personally wealthy, congratulations, but I'm gonna guess you live somewhere with high public safety and never worry about your lawyers or accountants taking up with kidnappers or extortionists.
The capital class is not just about having a lot of money, but being able to leverage it in the acquisition of political and social power. If you have to conceal your power, do you really have it?
And not showcasing power, concealing or misdirecting the perception of your power or lack thereof, has been identified as an important strategy from Sun Tzu to Teddy Roosevelt.