It’s not absolutist. Mildly reductive perhaps. But not remotely absolutist.
How could anyone be for it? It’s literally rule by the wealthy. It was a response created by wealthy mercantilist. Frustrated that no matter how much money they had there was an echelon of power always denied to them.
It’s always been tried with that definition. At the founding of the United States, wealthy white land owning males. The capital class with all the capital controlled it. It was oligarchy from it’s establishment. It was more beneficial on average than mercantilism. But still a failure.
Even today in China. The vanguard, their capital controlling class controls and regulates their state capitalism. Capital regulates capitalism. Not the people.
All these AI are privacy nightmares waiting to happen.