So your definition of 'ultra-capitalism' is plutocracy? I think the more plutocratic a society is, the less possible free markets are - and the lack of free markets is antithetical to any kind of real capitalism. I would call such a country 'faux-capitalist', not 'ultra-capitalist'.
Crony capitalism is no more representative of "capitalism" than rigged elections are representative of "democracy".
Hm, we have been through this discussion before, haven't we?
People seem to mean very different things by "free market". The Libertarian definition seems to be "totally unregulated market" which in my experience instantly degenerates into oligopoly or monopoly market, typical of crony capitalism. If "ultra-capitalist" is not that, what would it be?
I believe that a relatively free market can only be sustained if it is regulated by a government that is commited to it and is stronger than any individual supplier (or consumer), or any small group thereof.
That is visibly no longer the case in the US, for many markets (such as TV, energy, banking, operating systems, ...) It has always been worse in Brazil...