Since the Ferengi alliance is supposed to be an ultra capitalist society, why didn't we see more of Ferengi corporations? In the age of colonialism many private companies went on colonial ventures. India was originally conquered by the "East India Company", it wasn't until later that the British crown assumed control over India.
It make sense that a lot of the Ferengi starships the Federation would meet would be under the command of a corporation, rather the Ferengi government. I think seeing more of privately owned Ferengi starships would have made them more of an interesting villain (when they were supposed to be villains) and different from other civilizations. You could have Ferengi Corporations trade with and end up colonizing less developed civilizations.