FWIW, I also think we should have sensible regulations, because the externalities are very real and damaging, etc.
That said, I find a concerning and increasing number of people are fully focused on the negative externalities, and blind to the benefits. Ironically, most of those people are very wealthy beneficiaries of capitalism, from a global and historical perspective. I doubt that the billions of people who have been lifted out of abject poverty in the last few decades would fail to see that capitalism is a net benefit to humanity. But I suspect this comment will be heavily downvoted by those rich folks here on HN just because I mentioned something positive about capitalism, and that's gauche now. It's pretty perplexing, are people really so blind about the incredibly privileged place in history we occupy? It seems so.
Now, if we exterminate ourselves with AI or climate change ends up putting humanity as a whole in a worse position than we were in pre-Industrial Revolution (both of which I doubt tbh), I'd change my view on whether capitalism is a net benefit.