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One detail here is that “the people” is what the authoritarian socialist regime decides. And that’s far less people than the top 1%. Also, speaking up about abhorrent exclusion of some, or corruption, or anything, will lead to have the speaker considered “enemy-of-the-people”
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That's Stalinism not socialism
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How can you have socialism without democracy? The goal of socialism is to give as much freedom to as many people as possible. Giving power to just a few, seems counter to that goal.
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I think he's being sarcastic.
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Or have the illusion of controlling industry.
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That's dangerous
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Capitalism of course being famously non-political
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