All I take from that is that it is better to have the means of production owned by many hands rather than by few. This can mean ensuring that big companies are broken down to size and made to compete with each other, and making the competitive nature of capitalism work for you rather than against you.
Having the means of production a communal concern can mean a world populated solely by small regional businesses.
If I had to prescribe a form of socialistic capitalism it would be one where individuals are encouraged to form companies and make those companies successful, and then when the company reaches a certain size it is liquidated, its liquid assets shared with all participants but the lion's share going to the owner. This person then retires and the process repeats itself, making room for the next enterprising business person.
I'm not disagreeing with your comments. However, I'm sensitive to how people define Socialism. Describing the EU countries as socialist is the republican definition. Republicans started defining larger safety nets as socialism in order to demean social programs. It's a way to mock programs paid for by taxes. I'm a capitalist son of a bitch. Started a couple companies. Did well. Currently have a nice portfolio of publically traded stocks. However, I would not be where I am today without a safety net....
We could always go with what the dictionary says:
https://www.merriam-webster.com/dictionary/socialism
And wonder about the motives of those who want to pretend some other definition applies.