What you’re describing has far more in common with state socialism than capitalism. It’s corruption aided and abetted by government, similar to what you would have seen in Eastern Europe decades ago or Venezuela today. Under capitalism, the gobshites you are describing should have been allowed fail and not bailed out. Unfortunately Ireland has a long history of supporting cowboys.
Small business is the essence of capitalism in action, again most people are employed by small business owners. Crony capitalism, which is what you’re describing, is a cancer and needs to be eradicated.