There’s an art to it. I’ve read books where the villain wins only for it to be revealed that the protagonist was fighting for the wrong side. The only one who’s title comes to mind is Columbus Day, where humans team up with aliens to fight other aliens that invade earth, only to realize that they joined the “fascist-leaning” side of the conflict as a species-wide pawn.
Underlegislation leads to a bloated, extortionate upper crust that weilds disproportionate power over those who rely on said financial system. There is a balance, and the problem you outline is the lesser of the two extremes.