myth is replaced by parallel and not dissimilar mythology of continuous salvation by the state apparatus, with the morality of collective action driven by newly revealed ideology that is in many ways more distant from observable reality than the myth of Resurrecting God yet serves the same purpose of propping up the image of noble and moral overlords taking care of ignoble, ignorant and immoral population.
In a nutshell, the new Socialism is a slightly re-polished feudal political system.
Modern attitudes of the new aristocrats - read self-multiplying degenerate bureaucrats and ideological hangers-on towards people who make their living by dealing with material production and individual enterprise are strikingly similar to the 400 years old attitudes of the degenerate nobility and church officials towards peasantry and bourgeois classes. It is contempt wrapped in a thin layer of paternalism.
There is nothing new nor progressive in this sort of "socialism". It is mostly a reactionary movement masquerading as a new highly moral fashion. It is a drive back to the time when the feudal overlord took care of his subjects as of his children, providing welfare and controlling the morals in exchange for taxing the labor. This shrinks the "capitalism", i.e. free enterprise as there is no free money nor free labor as such in this system. Moreover, all uncontrolled economic activity is considered immoral.
One significant distinction though: while the old aristocracy was made of "Lions" dominating "Foxes" due to ongoing wars with external threats from every direction, in terms of Macchiavelli, the modern aristocracy is all about foxes dominating the lions and driving them out.
Needless to say that old feudalism with dominant lions had more gaps where free enterprise may take hold because lions were preoccupied with fighting the other lions and would overlook peasant rabbits building a windmill. The feudal socialism with dominant foxes tolerates no such thing.