at the end a company needs to be financially successful and for this it needs to provide competitive products and services. Otherwise, they'll just be replaced.

There of course may be a chance they'll get replaced by another employee owned company, but the odds of a free-capital owned company replacing them are probably bigger as they have more freedom to make the right decisions to become successful.

Also imagine your pension would just depend on the odds of the company you have been working for a live long, because you just cannot invest into other companies because they are only owned by employees.