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I like it because it works for its use case. Its use case is for sectors that have plateaued or no longer need (or never needed) the pressures of competitive marketplaces.
Good examples are things we have now in the USA that are socialized:
Now, you might say some of these suck, which brings me to my next point:
The only time social programs don’t work or don’t work well for their use case is when a minority of rats get into the system and chew and scheme their way to power and cannibalize it for their own gain. This breaks capitalist principals in their systems too, so I guess it’s not really a socialism issue.