Democratic socialism is a good idea, but I think it is difficult to achieve it. Allende in Chile is a good example. It is difficult to eradicate domestic capitalists in a peaceful way.
Canada has been democratic socialist for decades. We've veered away from it over time as conservative governments have privatized social goods, but it's a good system. The idea of the government owning the utilities, essential services, medical facilities, etc is solid - removes profit motive, keeps costs low. Save capitalism for wants and desires