I don't see it much of an admission of anything, personally. The admission would have had to come as an answer to a question that was never asked. To me, it's more of a way to keep the ruling class in place. It used to be done through government, now it's done through corporations.

And honestly, the corporation is a far more attractive model if you're in that racket. Rioters don't burn down corporate HQs, they burn down police stations. Public sector pay sucks. The corruption would be far too obvious... well, it would have been until relatively recently.