Yes and No.
I'll take the silly response. Take it with a grain of salt of truth. And I am not directing my words at anyone in particular, but more fictionally speaking.
Everything I love about Hive: free speech (mostly), (practically) infinite posting and image hosting, shared work (although disproportionately) to develop value in our jointly invested assets, and a representative governing body that can be easily replaced by popular support to enforce the will of the electors (although stacked to favor the wealthiest). Sounds like a free market democracy with certain constitutional rights that cannot be broken by anyone.
Hive does not rule every part of our lives, and only controls as much as we choose to invest into it. That does not sound like socialism to me. In full blast socialism, I would not be allowed full ownership of any of my own property, because it would be shared by everyone. If everyone believed I didn't deserve dime to my name due to a past crime allegation, they could choose to agree I do not deserve to earn a living or own property, and I might die of hunger. More likely a body of the government might penalize me with unjust consequences, the situation would be censored to protect the people (the government), nobody would know about the injustice, and nobody would bother to stop it.
However, some other things I have experienced in Hive: downvotes used to censor my words, downvotes used to censor my shared images, downvotes used to prevent me from earning my fair portion of rewards/income, fraudulent information posts used to rally opponents against honest/hardworking artists/authors, permanent spam attacks against authors intended scare curating from rewarding legitimate authors, permanent blacklists operated by anonymous cults who impose draconian sets of rules in order to be removed or provide no options whatsoever, witnesses who can jointly tax the populace at whatever rate they deem is fair for themselves, and witnesses who are capable of acting against according the will of their wealthiest stakeholders to impose self-benefiting irreversible measures.
Yes, this part reminds of socialism quite a bit. And this sums up all the parts of Hive abuse potential I really dislike the most.