What? Wall Street *privately* owns things. They perform no labor but still take a share of the profits simply for having owned capital. And we agree that the last sentence doesn't apply, so basically none of this definition applies to Wall Street.

As for parts of it supposedly never happening (not fully versed, can't say for sure either way), I think that's more an issue with the supposed implementation not living up to the ideal or theory. It's not an indictment of socialism itself to say systems didn't properly embody it.