I think the fact that the use and disposition of the "superficially privately-held capital" is determined by individual private entities is actually fairly significant, even if they're losing a cut of the revenues. It strikes me as similar to the way in which paying taxes on our labor does not make us "slaves". Whether the lack, in this sense, of "state control of the means of production" is enough to make it "not Socialism" seems to be something people could reasonably disagree about.