A core tenant of socialism is a democratized workplace, being able to vote for your wage and company policy, like an Engineer choosing when to launch the rocket instead of some MBS degree.
Last time I checked I dont think factory workers in China that make all our shit can do that.
Workplace democracy isn’t necessarily a core concept of Socialism, at least not in the Marxian sense. Removing the issues that come with the profit motive alleviates issues you describe. Instead, Marxists advocate for public ownership and central planning with extensive democratic controls, without necessitating competing democratic worker coops. Engels argued against such a concept in Anti-Dühring, actually, believing such a system to revert to Capitalism through competition and accumulation.
Which is also why socialism will never work. Humans are piss poor at evaluating the common good and making decisions collectively (see also: the last US election.)
And ceos are somehow significantly worse and consistently (and in many industries), almost exclusively make decisions directly opposing the common good including intentionally leading the world forward into societal and ecological collapse and quadrupling down on that stance… Because it makes them more quarterly profit. I guess we just have to let AI do it.