Marx pointed out already in The German Ideology (1845) that this would just cause a return to class struggle, as it creates an immense incentive for people to find ways to accumulate, no matter how much you try to crack down on it.
This was one of many objections to the Bolshevik rush to try to develop socialism, but by the time of the Bolshevik power grab, Lenin had spent 25 years inventing excuses for how Russia could somehow avoid that trap, starting by his fantasy that the Bolshevik would somehow get the support of poor farmers (didn't happen)... Didn't save him from it.
One could argue that an economic structure – any economic structure, including capitalism – cannot survive without a supporting value system. In Israel, all of these attempts took place in a capitalistic environment, both inside Israel and in international markets. It is worth mentioning Max Weber's observations that it took many years for society's value to change enough to support free-market capitalism. For example, he describes how workers traditionally worked less hours when offered a higher wage.
In other cases, the evolution towards capitalism just ran its course. Israel stumbled into syndicalism by default - its labor unions and cooperatives predate the state. In virtually all cases, the cooperatives did not grant new members the same rights as the founding members. E.g. the bus cooperative - which started out as a free association of owner-drivers - now relies on hired labor for most of the actual driving, with wages the same as any other driving job in the capitalist free market. The final stop for this kind of developments is in the unionized ports, where they have full union members making tens of thousands of dollars a month for sinecure jobs, with a lot of the gruntwork being done by minimum-wage hired labor with no rights. It's nice to talk about how "the workers" will not vote for this or that, but when it comes to voting members - of anything - voting themselves more rights than the people asking to join, they have, they did, and they will vote for that.