It is one pissible solution - just as one possible solution for theft is abolishing private property. If there's no property, nobody could steal anything. But it's not the only solution. There are many other ways - such as not employing the services of rent seekers, for example - that do not require government involvement. In some markets, this solution is blocked - usually by, guess what, goverment regulations - but as far as I can see, no goverment forces academia to elevate Elseveir to its pedestal.

He did say "if capitalism was really working". I at least read that as "working as intended", i.e. as the capitalistic ideal.

No I should not. That's like saying if I support free speech, I must welcome lying and insulting others. Supporting free speech means allowing people to speak without being persecuted, but that does not mean I must value all speech equally. Both myself and the society still can pass value judgement and value different kinds of speech differently. Same with business conduct - the fact that this conduct is not explicitly criminal does not in any way mean everybody should "welcome" it. There is a wide area between criminal conduct and welcome conduct, and the society and the culture has appropriate means to regulate it. If the academic institutions and the scientists would not value publication is Elsevier journals so much, and would not buy their subscriptions, Elsevier would not exist. It is not because Elsevier is doing something criminal, it is because people decided to behave in ways that allow Elsevier to rent-seek. They can change this behavior, and they absolutely do not need to join the Communist party for that or welcome Elsevier. Those aren't the only choices.

I never said it's the best, it's actually pretty bad at it (and if you re-read what I've written, you'd see that I consider Capitalism to be a form of totalitarianism). It's just arguably miles ahead of the alternatives that currently exist…