Pretty much. That's what happens when there's no oversight, and two groups of people in power work together most of the time. They collude for mutual benefit, to the detriment of the rest of us.
Not exactly a new idea, it's been around for a while. Anyone interested in reality or having a rational discussion accepts it to be true to at least some degree. People who aren't interested in reality deny the blue line exists at all: enjoy your totalitarianism. Try not to be upset when you're the one with the broken neck one day.