The kind of things that bother you about how the market works have bothered a lot of reasonable people. The temptation is strong to use the government to take control of such things and "fix" them, but centralized economies have been universal failures. Not least because a government is no more incorruptible than the private sector is.

What I have observed over the years is that the free market system almost always works when it is allowed to. You will note that corporations with management that abuses its position rarely have long-term success, and sometimes even get into legal trouble. Unfortunately, we rarely hear about well-run corporations with skilled management and employees in the regular media. I recommend magazines like Forbes or Fortune to hear about when capitalism works.

Companies with fossilized management are not at the cutting edge any more. Neither are unionized companies.

It is worth noting that most of the top companies in the U.S. today were not on the top a few years ago, and companies that were assumed to be indestructible examples of the immortal corporation when I was young (IBM, GM, etc.) have seen better days. Heck, many of the top companies today make things that didn't even exist when I was young. I don't think "old wealth" is as much in the driver's seat as you might think.