This is a simpleminded parody of how a market works. Competition isn't concentrating wealth, it's driving down prices. The value ultimately flows to the consumers.

When PE salvages a failing enterprise, it's increasing the overall value of that enterprise, even if that means selling off parts that still have value. Those parts are made available to others at prices lower than they otherwise would have had to pay.

Wealth concentration flows from impediments to competition. There is no shortage of PE firms competing for these opportunities.