Privatize profits, socialize costs. That is the main reason for nationalization. Western nations would not be so much in debt if they had assets. All assets were sold during neoliberal policies and the state was stripped from income. That is not going well, is it?
Re-nationalization is the only option to have solvent states.
I hate that as well, it's anti free markets. It will always exist to some degree since infrastructure is necessary, but there has to be more accoutability. But i'm a Thatcherite in that I believe government should be as small as possible. They have no business being employers, owning property etc. Whatever they do own should be justified, and you cannot justify having a major proportion of the population and national industries and companies run by government as was the case in Britain in the 70's and early 80's.
The alternative philosophy, basically socialism and socialism adjacent ideas that all critical national infrustructure should be run by the government imho relies at it's core the idea that it's just and proper for this to be the case since the government is the collectivevoice of the people, and the government owning something is as though the citizens of the nation own it. Which is... for lack of nicer words, major copium.
Then you have the other point, which is connected with the first, that more often then not nationalized industries are terribly run. And that's by design. In some cases nationalizing something may be necessary, but that should always be veiwed as a last resort, something to be avoided.