It's definitely not socialism. The governments always aim to take over failing private industries or industries they want to modify for external reasons. After

It's definitely not socialism. The governments always aim to take over failing private industries or industries they want to modify for external reasons. After taking actions toward that end, they send the industry (in part or whole) it back to wealthy friends of the politicians in power. Socialism doesn't work at scale, any more than any other system. The possibility of an existing government doing what it thinks is necessary, is never far from anyone's mind.