I'm Lithuanian familiar with soviet type of corruption and post soviet Lithuania which did a lot to remove corruption (also live in asia rn) and your assessment is somewhat correct but it's a terrible system.

The availability of corruption is a huge grease for economic activity and weirdly - order - but soviet type of corruption has a massive flaw that bad corruption bets (big impact, high publicity) would be mostly unpunished. In asia however it's quite interesting how the face saving and family culture corrects for that a bit as bad corruption bets will backfire despite lack of legal framework for cleanup.

Unfortunately it's _not_ equal opportunity corruption as low economic classes are left out and suffer the most, the cruelty of these systems are really hard to put in the words of a single comment. This also creates a massive overhead for corruption beaurocracy where entire positions are found not on actual product or activity but corruption "middle managers".

So despite your friends take this is not a good system on it's own and merely a relief for terrible autocratic rule. Autocrats actually actively allow corruption as this relief is what keeps them in power precisely because people with some power get a relief and poor class bears the slave worker burden.