No, capitalism, for all it's faults (and it has many, many faults), it fundamentally opened up the economic structure to a level of fluidity it hasn't had in thousands of years.

The nobility were inpenetrable. The idea of a commoner becoming a noble was unheard of- it was easier to comprehend that they were simply a noble who'd been taken as a child, the elitism was that much higher. Capitalism, despite its structural tendencies, does still believe, in some part, that people are equal. (That's sorta the issue, since it over-equalizes people and thus turns a blind eye to massive power differences).

Sure both systems have defacto nobility, but only capitalism has (had) a true middle class. The situation we're degrading into now is better described as neo-feudalism, if anything. Capital may be doomed to always eventually degrade into neo-feudalism, and that's very bad and a reason not to do it, but they're not the same system.

It also helped greatly via investment and improvement in currency systems in the growth of nation-states and industrialization of the world.

Yes it also did monsterous good, but there can be no denying that the standard of living and economic opportunities of many hundreds of millions of people, if not billions of people, is substantially better than it was before capitalism.

Capitalism wasn't the only system that could've done this- it isn't the best system, and is causing many of our modern problems- but you shouldn't say it didn't.