If your contention is that feudalism is an inaccurate lense through which to view medieval Europe, then okay.

But the taxing and redirection of excess economic output, accomplished through ownership and lending of land, leading to an underperforming history of innovation, seems borne out by the history of Europe, regardless of the intricacies or framework through which it's viewed.

And that seems pretty on point for exactly what everyone is decrying with regards to consolidation into conglomerates in the tech sector.