There is no denying that the state has large powers. I do get to influence through voting and organizing who is wielding those powers. I find that much more attractive than my much more limited ability to influence the direction of corporations.I distrust both equally but I am more wary of government, it has the power to take your property and has access to violently assert its will upon the population legally. That's all personal philosophy though, my comment about corruptible bureaucracies was broadly inclusive. HOAs, NGOs, neighborhood associations, trade organizations, ...
Secondly, corporations have been violently asserting themselves upon the population legally, or at least with begrudging acceptance, for a very long time. Big Tobacco would be a older example. As would the Bhopal disaster. More recently, take your pick of oil spills or financial instabilities. International grain market fluctuations are at least partly responsible for the food protests that developed around 2010-2011. Insufficient crop payments resulted in many Indian farmers committing suicide. Or, auto companies and traffic deaths (just to bring it back to a topic on this forum).
The point being that corporations dump negative externalities onto the people and the environment. It takes active state powers to enforce proper handling of those externalities.