Maybe you find this essay has some useful ways to think about it: https://redsails.org/china-has-billionaires/
It quotes from mainstream media sources to support the charge that the communist party keeps their reins on the billionaires in a way that just doesn't happen in capitalist countries, with an eye towards long term goals.
While obviously capitalism sucks for art, it's not clear to me that a LToV-based system would allow you to make the type of art you want to make without consideration of what the people who use the art will value.