I think a useful exercise would be to look at what, as you say, “looks good on paper.” Where did you get that conception, from Marx, or people talking about Marx? Part of the Red Scare was blunting and twisting Marx, it wasn’t just “Marx and Marxists eat babies” or overt misinformation easily dispelled, but often worked in subtle ways, and still does.

I am not going to turn this into a lecture on Marxism (unless you want that, I can do that for hours because I am a fucking nerd). However, I do want to point out that Marx’s prediction for Communism was of a fully publicly owned and planned economy over the world, where everyone shared equal ownership with all of industry. He predicted this because he watched Capitalist industry get larger and larger over time, and competition become less and less feasible as barriers to entry got more expensive.

I think you have an idea of Marx in your head that envisions a horizontalist, decentralized economy, when Marx thought further centralization is a necessity of advancing industry in a more and more interconnected production process. We could spend days and years talking about what the PRC and former USSR gets right and wrong, but my point here is more about just how easy it is to misunderstand Marxism entirely from the get-go.