A corporation is just a group that's recognized as a separate entity by the government. There's nothing that says the governance of a corporation has to be dictatorial. Many cooperatives are corporations.

You could have a closely or publicly held company with democratic governance. It's rare and I don't know of any examples, but it could happen.

Companies don't have to be feudalism in microcosm by definition, it just so happens that aristocratic ownership tends towards oligarchic governance.

or just tightly controlled companies fail less often than cooperatives

Or it could be that private companies are more likely to care more about profit for shareholders than the health of the market and their own workers, so they deploy unfair employment practices and anticompetitive market behavior to cut corners, destroy the competition, and monopolize for even more profit.