So it sounds like we agree? Privatizing advantages the bigger, wealthier, investors.
What I disagreed with is that the belief was mad. You've just explained a lot of ways that the belief was wrong not that it was mad. We agree that it was wrong, so this didn't do anything to convince me that it was mad, and I still don't agree with that.
If I've understood this line of argument, you're raising objections to privatisation, and then concluding "since privatisation is a bad idea, anyone who believes it's a good idea must be mad." Do correct me if this is not your logic.
If it is then it's unsound in a way that I see repeated again and again on Lemmy: people who disagree with you on one thing tend to also disagree with you on other things. Specifically, someone who thinks privatisation is a good idea, does not (or did not) agree that any of the arguments you raised were sufficiently strong. It would be mad to continue to think that privatisation is a good idea if you agree with the arguments you made against it.
But merely disagreeing with your arguments is not mad. Just wrong.