Not really. It just got replaced with competitive authoritarianisms and consumerism (fanatically competitive branding).
Now, it's a contest between cancel culture bullying and childish selfishness bullying.
The common theme running through history is that humans vote for bullying over leadership; every....freakin'....time.
That's why the guy with the best hair wins. It's like a flock of chickens literally enforcing the pecking order by pulling the feathers of the lesser roosters, often until they bleed to death.
Capitalism does it with money, but the opposite of unfettered capitalism is not socialism: it's sales taxes.
Socialism is the anti-bully system that almost always gets compromised by bullies with credentials.
"A society based on competition inevitably leads to fewer and fewer winners and more and more losers." -Wendell Berry