> any [] property can be [taken by the state] from its [original] owners simply by [those owners becoming more powerful than the state wants]

When rephrased like the above, I think what you’re describing is pretty common in history. Many industries and assets have been nationalized when it serves the state’s interests.

IMO the moral justification is that there is no ownership or private property except that which is sanctioned by the state (or someone state-like) applying violence in its defense. In this framing, there’s little moral justification for the state letting private actors accrue outsized power that harms consumers/citizens.