Yup, exactly this! To clarify a bit more for the lurkers:

Obviously the line can be hard to draw for most (intentionally so, even!), but at the end of the day there’s people who work for their living and people who invest for their living. Besides not having to work, investors are very intentionally & explicitly tasked with directing society.

Being raised in the US, I often assumed that “capitalism” meant “a system that involves markets”, or perhaps even “a system with personal freedom”. In reality, it’s much drier and more obvious: capitalism is a system where the capitalists rule, just like the monarchs of monarchism or the theocrats of theocracy. There are many possible market-based systems that don’t have the same notion of personal property and investment that we do.

Ah, that might explain some communication issues I've had.

Looking it up, it seems that marxists use the word "capitalists" to refer to the class of owners of capital. I've always used "capitalist" to refer to a market-led country or to people who believe in capitalism. My dictionary helpfully uses "capitalist" to mean anything related to capitalism.

At the very least, I'll have learnt something from this conversation :)

Lots of followers of capitalism fancy themselves capitalists, as supporters of a system that could enable them to themselves own capital - which feels like an even playing field in terms of possibility for the future. But they are not capitalists and have nothing in common with the ones they idolize. There is an in between sense of the word where people apply the label aspirationally.