Sure, that's fair. Regardless, my issue is that the people who do the actual work do not get to determine how profits get distributed - power is held over them

Sure, that's fair. Regardless, my issue is that the people who do the actual work do not get to determine how profits get distributed - power is held over them by the owner (who is only the owner by virtue of state enforcement of property rights), and this leads to accumulation of wealth and power in the hands of a select few. IE, capitalism.