No, the error of all Communists, irrespective of rank, is in believing that something as complex as an economy is something that can be controlled to the benefit of the majority. Intentions be damned; it isn't possible in principle for a centrally planned economy to operate at anything near efficiency. The Chinese found a clever mix of state capitalism and distribution of wealth to keep the many happy for a few decades, but that will peter out as soon as their growth reaches a point where they can no longer sustain 8-10% year after year.The error that rank-and-file Marxists make is that of believing a central committee will somehow express the collective will of the people.
The two critiques aren’t mutually exclusive. Yours is a structural critique; mine is a critic of the beliefs of rank-and-file members. I agree with you about China too, though I am picky about definitions. As soon as the Chinese government turned the means of production over to private ownership, they ceased to be meaningfully communist.