I don't know if this is true, but if it were true you'd have a veritable "tragedy of the commons" [0] situation were privatization of (some) gains leads to the creation of negative externalities for the rest.

If incentives were aligned differently, different results might have resulted. Probably with different externalities (or unintended consequences).

[0]: https://en.wikipedia.org/wiki/Tragedy_of_the_commons?wprov=s...