Yep, that’s why Marx is correct. Capitalism consolidates itself into large monopolist syndicates, removing the usefulness of Capitalists and eliminating competition, whereby Central Planning of public property becomes greatly more efficient.

The essential conditions for the existence and for the sway of the bourgeois class is the formation and augmentation of capital; the condition for capital is wage-labour. Wage-labour rests exclusively on competition between the labourers. The advance of industry, whose involuntary promoter is the bourgeoisie, replaces the isolation of the labourers, due to competition, by the revolutionary combination, due to association. The development of Modern Industry, therefore, cuts from under its feet the very foundation on which the bourgeoisie produces and appropriates products. What the bourgeoisie therefore produces, above all, are its own grave-diggers. Its fall and the victory of the proletariat are equally inevitable.

-Karl Marx, Manifesto of the Communist Party

For more reading, Why Public Property? is a good article elaborating in modern lingo.