Like so many other new technologies, the true issue is with capitalism, not the tech itself.
Probably the best single-line reduction of the whole issue here in this thread. Well said.
However, I do think it’s also cultural in the tech companies. The modern tech culture was borne from an attitude that was 100% rooted in “well the law says we can’t do this, so we’ll do this instead, which is different on a technical and legal level, but achieves the same end-result.”
This was heavily evident in early piracy, which went from centralized servers of Napster and Kazaa to the decentralized nature of Bittorrent entirely in response to civil suits for piracy. It was an arms race. Soon enough the copyright holders responded by hiring third parties to hide in torrent swarms to be able to log IPs and hit people “associated” with those IPs with suits for sharing trivial amounts of copyrighted data with the third party. That was responded to with private trackers, and eventually, streaming.
Each step was a technical response to an attempt by society to legally regulate them. Just find a new technical way that’s not regulated yet!
The modern tech companies never lost that ethos of giving technical responses to route around new legal regulation. Which, in itself, is further enabled by capitalism, as you astutely pointed out.