I note the SWP still exists - they were very active behind organising the Stop The War Coalition in 2003, and many entered the Respect party.

I add one angle on this state capitalist thing possibly absent in the SWP's version: my philosopher's description of an angle of regime change here. In 1989/90, a lot of formerly state companies became private - but often with the new owners being the former state company heads or other apparatchniks, who used all kinds of legal loopholes and tricks. The result is that in formerly 'communist' countries, the larger part of entrepreneurs and businessmen were former Party members. (Our current PM is a prime example.)

This 1989/90 property grab by the cadre is commonly considered the Big Theft. This philosopher however posited that it was no theft - only a transformation from state capitalism (in which officially everything belonged to the people, but was in effect at the control and to the profit of the self-selecting elite) to private free-market capitalism, with the same capitalist class keeping and defending its property in a different legal framework.

_{*Lunatic*, n.
One whose delusions are out of fashion.}