This does not end up how you think it does. Not allowing for unchecked corporate power doesn't mean consolidation of government power into the hands of a few.

Our system is broken because we allow corporations to go around the people and buy influence directly from politicians. Not all systems have to do that.

But Removing the people that corporations are currently buying influence from doesn't mean they do being bad. It just means they have even fewer obstacles to doing what they want than they do now.