"Capitalism is bad" is a very superficial understanding of Squid Game's message, and if you accept it you must also accept "Democracy is bad" along with it.

As I see it, the message is more about the corruptibility of humanity and our willingness to fold in the face of peer pressure and material rewards for playing the games of those in power, and the choice of the courageous to refuse that corruption - a theme which goes far beyond any ideological and/or economic system and has spoken to the human experience in every society going back as far as history can recall.

Certainly the very same theme can be applied in North Korea, a rabidly anti-capitalist country which some of the best characters in Squid Game chose to flee from in the hope of better prospects in the capitalist South. Couple that with the sense of inevitable doom and the sacrifice of true morality enshrouded around Gi-hun's rebellion, does nobody think this wasn't the writers trying to make a much deeper point than "capitalism is the root of all evil"?