Unlikely. Prior to incorporation, families were the operating unit of commercial and thus military and political activity. This pattern would resurrect itself: families, like corporations, can be immortal. That means they can plan and be trusted for the long term.
Note, too, that incorporation gives rise to charities, unions and independent lobbying groups like the Sierra Club. You lose those when you wipe out legal personhood.
After all, politicians in democracies should be responsible to their electorate, shouldn't they?
[1]: https://www.lepoint.fr/high-tech-internet/exclusif-comment-g...
[2]: https://www.lobbycontrol.de/2020/11/mit-harten-bandagen-wie-...
Unfortunately, I don't think we can say that they should.
I mean, in democratic ideology they should, but democratic state institutions, legal and organizational arrangements are not fashioned to achieve this outcome; and most democratic states were not, after all, created by the mass of people setting up those arrangements. Rather, elite groups and powerful interests set such states up, with democratic elections being a mechanism for legitimizing the new regime among the masses, or a concession to public pressure.
If a big American corporation is transferring lots of money from Europe to America while engaging in some sketchy behaviour, Europe might be more enthusiastic about clamping down on that than America. For both financial reasons and due to different political priorities.
It's not like Europe could unilaterally reverse Google's purchase of Youtube or Facebook's purchase of WhatsApp.
Also, in most world states, large corporations are able to threaten leaving - stopping activity in the country - which can be quite a hit to the local economy for smaller states and larger corporations.
Another point which hinders your suggestions is the imbalance between world powers, especially the US (and to some extent the EU and China) - so that if one or several of those are beholden to corporate interests, then the others, or world-wide bodies, will find it very difficult to mandate things, apply taxation etc.