Whether or not this is accurate about Tim Walz, it is accurate to say politicians, elected and appointed officials regard the ownership class as peers and vice versa.
This is also true regarding the upper management of news agencies, which figures in liberal or left-wing news sources that won't go far enough left to jeopardize a status quo in which the agency and its owners thrive. And yet, they will underestimate the right wing and its willingness to let the leopards eat their faces once they are in power. The recent nods to the Trump transition by WaPo and the Los Angeles Times will not save either agency from Trump's wrath against press once he is in power.
The Democratic Party is far right, just slightly more left-wing than the Republican party, and they are still beholden to the ownership class when it comes to campaign contributions, which is how we don't have four-day work weeks, universal healthcare, social safety nets or any of the features that most developed nations enjoy, because it's plutocrats that decide what our elected officials are allowed to do, not the public.
It's also why communist and socialist are bad words, even though that means the only thing else you can be is a monarchist which is about as anti-American as one can get (at least if you believe the preamble to the Constitution of the United States). We've literally been indoctrinated against public-serving government.
But then it's time to ask, what is the point of recognizing or serving the state at all if it isn't to serve the public?