I think most people (correctly imo) don’t see how a large enough company can operate without some hierarchy, which seems to run up against the idea of being entirely equally employee owned.
There’s always going to be leaders (manager or just someone who others listen to) That person necessarily has more responsibility and control than his peers and is justly compensated more (otherwise nobody would put in extra work, say, to train as an engineer or doctor)
That person has their own interests that don’t always line up with the company and may use their influence to guide the company in a way that benefits them.
Suddenly you have a worker class and a bourgeois-esque class.
Most people (incorrectly imo) think that the “unbiased” checks and balances in government counteract that.
If there’s another option that accounts for hierarchies in large employee owned and operated companies let me know…. please