Your view is likely biased towards the US though - most countries don't have a PE industry. Also most businesses aren't attractive to PE in the first place.
You need to look past the headlines, past the news. As you drive consider each building you pass. That mom-and-pop store. That corner franchise. That Indian take-aways.
Most businesses aren't Apple or Google. Those are the exceptions, and despite their vast numbers they are a drop in the bucket of the n billion people employed world-wide.
Yes it's an old fashioned view on the nature of business. But it's also the reality for millions of small businesses today.
Late stage capitalism is eating the heart of the US yes, but fortunately it hasn't spread to most places yet. And even in the US good businesses do well, if you care to see them.