Ownership and allocation mechanism are mostly independent axes. Consider for instance Norway (extensive state ownership but highly market-oriented; in certain respects more liberal than the US) contemporary China (state control of most major firms but mostly market-oriented), Gaullist France (nationalized infrastructure plus minority state shares in other sectors, markets supplemented with indicative planning and state-directed investment) or the US during WWII (almost entirely private, full-blown central planning).

Venezuela's level of interventionism is unremarkable by the historical standards of the developed world. The problem is their poor choice of interventions.