In reality, "Capitalism" has a definition. Private ownership of the means of production largely describes our current economy, whether there is robust competition or not. "Crony-capitalism" is Capitalism, and vise-versa. It always has been.
Bringing up the ownership of the means of production makes you sound like a Marxist. It's pointless to talk about "the means of production" in this context because even an iPad is one. Crony-Capitalism is Capitalism + Political Power, and with much less Capitalism than would happen without political power in the picture (because there would be no obstacles to producing, exchanging and investing).
An IPad (or any old Laptop) qualifying as means of production in a certain sense is pretty much a prerequisite for the point the article was making. But unless we manage to directly convert bits and bytes and ideas into material goods, the question of who owns the non-informational means of production remains highly relevant. Is sounding like a Marxist supposed to be bad? Marx may not have been right with all his predictions, but as far as analysis of the problems with capitalism goes, I'd say one could do a lot worse than listen to what Marx had to say.
Feel free to list the alleged problems then. If you think he made sense, it should be easy to come up with some good examples.as far as analysis of the problems with capitalism goes, I'd say one could do a lot worse than listen to what Marx had to say