I have to agree with you that the state should never have privatized the prison service. It sets itself up for all sorts of unintended consequences, the chief of which is lobbying by the prison-industrial complex for ever more severe sentencing.

The same applies to a lot of other sectors. All the basic utilities and universal healthcare should be public-sector, because any benefits relating to market efficiency are more than offset by distortions to the political process resulting from lobbying.

Still, the basic point stands that incarceration is a form of punishment, and it is legitimate for it to include a component of hard labour.