I think you’re thinking about this a bit skewed. The system they’ve set up is identical to Russia, where private mercenaries institute the will of the state without the state taking responsibility. This is only possible when the state actors align with the business interests of the company and so at best they are able to strong arm policy in their favor for access to their controls and at worst act with impunity while the state wipes their hands clean of the consequences. In all cases it being controlled by tech billionaires is worse than being controlled by the government.