This means the next Democratic administration, and that would include a Biden administration, will sit to the left of the Obama presidency, which itself was a distinct ideological break from all the party’s left-of-center presidencies since World War II.
The Obama administration was managed capitalism. Its successor will push past that to administered capitalism, a private-sector co-controlled by the party’s representatives.
This arrangement is contra-constitutional in fundamental ways. While, at least in theory, what we now call the administrative state promotes efficiency and the public good, the Constitution was actually designed to promote liberty – government would be limited in what it could do to citizens rather than empowered to direct them, with society flourishing through the initiative and ingenuity of free individuals.