This term technofeudalism may have been invented by marxist Yanis Varoufakis who somewhat describes the problem to propose a communist solution. https://www.yanisvaroufakis.eu/2024/04/22/welcome-to-the-age-of-technofeudalism-interviewed-by-wired-magazine/
The current situation does not match historical feudalism. Feudalism was a highly structured society usually led by aristocracy. It is criticized for its rigidity, lack of upward mobility, and sometimes poverty of the serfs, but it did support the culture bearing stratum which advanced civilization. The current system is lead by foreign elites of the merchant class, and it does not have the clear hierarchy that supports the culture bearing stratum and civilization advancement. It promotes equality and other communist non-hierarchical values.
The better term is technotyranny.
