The ‘can never lose your job ’ thing is always thrown at public sector.
True, it's much more nuanced that that. Generally you couldn't lose your job for incompetence (so not much has changed, really).
Indeed part of the trauma of the 80s were people who thought they had a job for life suddenly realising they didn't. Something that I was learning even before I took my O levels. So (once again) when I heard people in the 1990s saying there were unlikely to be jobs for life in the future, I realised (once again) how fucking stupid a lot of people seem to be.
Anyway, governments really shouldn't run businesses. They really aren't very good at it. Now that's not axiomatically an argument against state oversight of critical infrastructure. If you have the imagination and vision to address it.