This is exactly on point. Customers and employees of implacable monopolies, with no choice but to work and buy from the oligarchs, and therefore no rights in any meaningful sense.

There's almost certainly a degree to which an industrial economy makes this sort of maximally vertically integrated system inevitable. Insofar as technology sets the parameters for social organization, things like 3D printing might end up sending things back towards a more distributed political system via enabling of household industries and therefore self-sufficience.