It is a society where power is strictly organized into a clear pyramid. This model predates capitalism by a lot. If anything, true capitalism is more chaotic and probably churns the layers of the society more. This is more akin to a feudalism with capitalist characteristics, with the Party instead of the bluebloods.

Actually the idea is to assimilate as many elites as possible into the party and then allow certain infighting. The rest of the people are simply Human Resources.

Ironically, not too different from the US.