That's a different situation / scenario and addressed a different problem.

The government is the most efficient and effective at big capital spending and with what I would call static operations. Competitive private entities are the best at delivering value on the front-end.

Monopolist/cartel private entites combine the rapacious nature of rent seeking with the lazy inefficiency of bureaucracy to great a giant ball of failure. Effective privatization requires either creating a framework for a robust competitive landscape OR tight, effective regulatory control. There's no universal correct answer.

If competition is in place and companies can win or lose, they will move mountains to yield marginal gain. If you let them get fat & lazy, you will need to move a mountain to do anthing -- even make more money!

> If competition is in place and companies can win or lose, they will move mountains to yield marginal gain.

... in the short term, happily screwing over society at large and possibly even themselves in the medium to long term. Perverse incentives are everywhere.