CA has their weird form of third way social democracy that’s literally just the worst of both worlds. Plays a big role in why utilities and housing costs are messed up. Certain parts of the state have been good for LGBT rights compared to other areas as well.
Progressive doesn’t mean socialist. California is basically just the same as Canada.
One of the clear benefits of state capitalism (i.e. government ownership of the nation’s largest for profit enterprises), is that in the event of a financial crisis you can shove a bunch of money into them in a way that isn’t just a massive upwards transfer of wealth.
In 2020, Keynes would absolutely be a Dengist.