Communists strived for common ownership by a classless society. They believed the progress would be feudalism -> capitalism -> communism.

In this new vision, the billionaires own everything and others owning nothing - at which point they become serfs. It is a regression to feudalism.

If anything the means of production are even more owned by capitalists. A copy of Photoshop is arguably a mean of production, but where previously everyone owned their copy they now rent it from Adobe for a fee.

If anything, it's the logical continuation of the trends Marx saw.

Even under communism the collective ownership was for the "means of production", not for they call "personal property" aka "things you bought".