> There is nothing inherently ethical about co-op owned organizations nor anything inherently unethical about privately owned organizations.

I disagree. Co-ops are inherently democratic. Privately owned business is inherently anti-democratic. The difference only becomes starker as the scale increases. That alone makes it seem more ethical to me, before you even get to examining the way democratic organizations obviously do a better job at checking any single person's power than rule by one, as well as other effects.

Why does it seem more ethical for the organization that makes your daily bread to be democratic?

I have no doubt that there are people who wish to attend meetings to vote and argue about minutia involves in the running of bakeries and other organizations. But just because people exist does not mean that the most ethical organization is one that gives them the most opportunity to exercise their particular interest in attending meetings.

The vast majority of people do not want every organization their lives to run like a mini democracy. Not only is this not necessarily more ethical than other alternatives, but it is definitely less efficient and that matters when it comes to the supply of material goods. I don’t want a vote on whether or not my bakery puts sesame seeds on the bread. I just want to buy a loaf of bread thanks.