I think of it is the level of regulation I'd require / desire in an endeavour.

On one side there's things with very little regulation required, private companies go crazy (and they will!:).

On the other hand, there's things I want high regulation on - use of violence (army / pokice / security), medicine, key infra utilities, alcohol/drugs/gambling, etc.

We can discuss whether we agree those things need regulation, and if so, what form that regulation takes.

(To me, some things I want so highly regulated there's no benefit in private ownership, just risk of runaway loop exploitation)