In what follows, take “corporation” loosely and in the most general terms, as denoting any body collected of humans and exerting agency apart from those of its collected members. So, your family is a corporation, and so is your book club, and your parish, and so forth.
Real corporations (not the fake or specious sort) can be bad or good – or even holy.
A fake or specious corporation exists only on paper, and has been established not to do any real business – not, that is, itself to act in any way – but rather only for legal or tax reasons. A holding company, e.g., with no customers or employees of its own, is a fake corporation. Fake corporations have no moral character of their own, for they are nothing more than legal instruments of others, that do.
Real corporations are enterprises with a mission, a purpose, a telos, a set of final causes, living and active employees, and buying, generating and selling true goods or real services that they provide to living clients (and employees). They are furthermore spiritual entities; they have angels, regnant occasions, lives.
You can tell when you are dealing with a real corporation because you will find that at least some of its employees or customers care about it (either to love it, or to despise it). Sports teams are a perfect example of this phenomenon. We see the same thing at work with charitable and artistic corporations. We see it also with nations; patriotic feeling is a sign that its object is a concrete actual.
Qua enterprise, a real corporation evokes in her employees feelings of meaning and significance and importance. They care about the operation and work for its good, rather than only for their own. They sacrifice for the sake of her mission and purpose.
Real corporations can of course be and do evil. They are the sort that give corporation as such a bad name. But they can also be good, as most do in fact try to be good (even when they end up being evil). And so therefore can they be even holy, as the Church is, despite her manifold evils.
Thus there is no reason why a sovereign feudal corporation that is operated for profit could not be sacred, and consecrated to God, so that its operations were numinous, and its rituals and offices – and, by extension, its officers – invested with awe, and with aweful authority.
Subsidiaritan devolution of power and authority cannot transpire unless the supersidiary corporation first has that power and authority really as its own, so as to be able to devolve it. An officer of a fake corporation could not confer true authority and power upon any lesser concrete. A fake corporation – that is to say, a mere fiction – cannot act at all on its own; so it cannot confer. It has fake offices, and fake officers.
A sovereign feudal corporation need not therefore be bloodless, or cold, or exploitative, or manipulative, or selfish. It could be, of course, as any corporation – or any other sort of agency whatever – might be bad. But bad corporations tend to do poorly.
Good sovereign feudal corporations are likely to engender the same strong feelings of loyalty and piety that patriotic Americans feel toward their flag, or that patriotic Britons feel toward their Queen. Such a corporation is likely to have employees and customers who are willing to lay down their lives in her service.
Bad real corporations tend to engender feelings of hatred; good real corporations tend to engender affection, and loyalty.
Fake corporations don’t engender feelings of any sort. As only real corporations can act, or therefore have any moral valence strictly their own, they are the only sort that evoke moral sentiments.