It creates a majority class, the working class, who collectively do the work, and a minority, the capitalists, who own or control the means of production. That happened at the birth of capitalism. The early British capitalists forced peasants off the land into cities where they had no way of surviving other than selling their ability to work to someone else. Today laws and repressive institutions like the police defend the capitalists' monopoly of the means of production. It is perfectly legal to shut a factory, but illegal for workers to occupy one.
Capitalists even slap patents on scientific techniques and ideas.
They are like kidnappers, seizing what society needs and allowing it to be used only if they can make a profit from it. That profit comes from exploitation, paying workers for just a fraction of the work they are forced to do. The capitalists as a whole exploit workers. They are also in cut-throat competition with one another. There is no overall plan of production.