Put another way, it says a lot of things, and outlines a lot of problems, but I'm not sure it puts any solutions forth. That's probably a good thing IMO, as any solution presented in a program like that invariably seems trite to me, as it necessarily oversimplifies the problem so the solution proposed can work.

Keep in mind this is a Korean drama, not a western drama. "Late stage capitalism" is an English language/western world concept, not a universal one. (Even the term "late stage capitalism" implies that capitalism is somehow going to end, but commentators never clearly explain what system they think is better or what should replace it. Capitalism IMO is with us for the rest of humanity.)

No, it's a version of such shows that you cannot escape from because of financial pressures on your life, despite likely ending in your death. That is the key - even when given a chance to get out, the overwhelming majority of participants embraces the game, because the alternative (being economically destitute, while lying to friends and family to keep up appearances) is seen as worse than death. It's literally "get rich or die trying".

The final revelations, about the game's origins and the fate of previous winners, add further elements of critique of "the system"; and the story arc of the "good son" is a critique of a (Korean) academic process that, while ostensibly promoting talent, ends up producing sharks.

https://www.abc.net.au/news/2021-10-16/squid-game-on-netflix...

But here: https://www.theguardian.com/tv-and-radio/2021/oct/26/squid-g...

“It’s not profound! It’s very simple! I do believe that the overall global economic order is unequal and that around 90% of the people believe that it’s unfair. During the pandemic, poorer countries can’t get their people vaccinated. They’re contracting viruses on the streets and even dying. So I did try to convey a message about modern capitalism. As I said, it’s not profound.”

And here's another one: https://www.nytimes.com/2021/10/06/business/economy/squid-ga...

“The stories and the problems of the characters are extremely personalized but also reflect the problems and realities of Korean society,” Hwang Dong-hyuk, the show’s creator, said in an email. He wrote the script as a film in 2008, when many of these trends had become evident, but overhauled it to reflect new worries, including the impact of the coronavirus. (Minyoung Kim, the head of content for the Asia-Pacific region at Netflix, said the company was in talks with Mr. Hwang about producing a second season.)

It's a recurring theme in Korean media eg Parasite and Snowpiercer.

I could pick Atlanta and The Wire and say American media is commonly critical of police. Or turn around and pick CSI and Law & Order and say that American media is commonly supportive of police. It hardly says something about the overall landscape. And thats even picking shows with different directors!