If people want to set up a DAO on some blockchain where "the code is the contract", then "shame on he who thinks ill". That's the pure form of "the corporation is just people with rules".

Corporations, ancient and modern, depended on the State to construct (and subsidise the defence of) the asymmetrical rights of shareholders against the Board, the Board against the managers, and the managers against the employees. Think of the thousands of pages of regulations, the dozens of state and federal agencies auditing and enforcing, and the court time required to enforce the status quo.

Without that structure and subsidies, the "Principal-Agent" problem would make corporations uncompetitive except in very niche situations. As they once were.