That is very very very often also not the case. There are probably many shitty private companies as public.
See: Cargill, Koch industries, Schwartz group, state farm and pretty much every insurance company in the US, deloitte, publix, subway, McKinsey, Vitol, etc…
1983 Lenco LRP 5450 DD record player &
1998 Yamaha RX-496 RDS stereo receiver
My stepfather got them for us 2nd hand for a joint present. Quite a decent system!
Not a real audiophile, but it works well and we enjoy it.
I also made a Google Home kind of thing out of it using an ESP32S3 that uses ESPHome, Home Assistant, and Music Assistant to make it a Spotify connect node to play Spotify through it, control it with an IR blaster, and use Voice Assistant with it if I am not too far (it has a single mema mic)