That exactly what will happen. In the best case, if you lacky enough, you will be live in a mud hut. The rest will envy those who can afford to live in a mud hut.
Workers can start running companies at any time, no one restricts them from running their companies. The only reason they don't do this is that this will be worse for workers.
So you are being hypocritical. You don't want workers to run companies (they can do that now), you want workers to have no alternative.
This is absolutely not true. In absolute numbers, the cost of starting a business is quite low, and workers have a lot of money, much more than their employers. And if workers collectively stop spending their salaries on unnecessary things, and instead organize a fund - on average, in 2 years they will have enough money to buy out the entire company they work for, or organize a comparable one.
There are no problems with capitalism, capitalism just allows you not to do all of this, not to suffer 2 years of poverty for the sake of living in a mud hut (if you're lucky enough).
And no, you didn’t have to live in a mud hut for it. In fact, it was more affordable for the regular worker to build a house than it is now. Those houses were/are comparable to what you see in Germany today. Go check out the real estate market in Slovenia if you don’t believe me, look for houses built 1950-1990.
Nobody would've thought the rise of MAGA in the US was gonna be feasible two decades ago.
Maintaining ideological blinders for what is feasible is how entrenched interests prevent systemic change.