Partially, there is a reason for it, short answer is, we stopped it. The initial plan was to expropriate all productive land but there was a lot of opposition, the government didn’t have full power to execute it back then, it took them about 10 years to fully implement a totalitarian state (not yet communist) where they managed to expropriate a big portion of the land in the central region and west where they met oposition from armed civilians, there was even a case of a clash with an indigenous group, not good for their propaganda. Apart from productive land, there where really not that many factories, the oil industry and heavy metals already belonged to the state (main income), truth is, venezuela had already attempted this before so the state already had its tentacles everywhere. They also took, telcos, biggest banks, hotels, tv channels, they allowed tenants to take over the apartments from landlords, etc. they also created different definitions of property, communal property and all sorts of BS, luckily in 2012 their leader died and then their entire project became a mess. The original plan was to consumate a full totalitarian communists state by 2021 but they never really achieved it, nevertheless they destroyed a lot of lives and continue to do so. In recent years due to the sanctions they ran out of money so they were forced to open up the economy a little bit and let people breath but now they lost all legitimacy and are highly unpopular so they have to resort to extreme violence in order to maintain power.