Yes it's a cyberpunk trope, but it's also based in history. Wealthy nobles of Rome and Medieval times were landowners and, to put it bluntly, warmongers... using armies to make profit by war. They were nothing if not the corporate warlords of their times, holding shares in agriculture, land ownership and armies. Collecting shares of their workers (commonly referred to as share cropping), much like taxation. If that isn't some form of pseudo governmental function, I'm not sure what is =/
> For the 81 states for which estimates were available, private security workers appear to outnumber police forces in 44 countries – with a combined population of roughly 4 billion people – or more than half of the world’s total of 7.5 billion.
There's a bit of a difference between a world in which it's common for rich people and big buildings to employ security guards (as it has been for most of history) and Mr Lee's Greater Hong Kong...
One thing about WALL-E that bothers me is: this was a civilization that mastered interstellar travel, to the point where it was trivial enough for vacations. They seriously couldn’t come up with a better plan than burning all the trash? Just send it to the sun lol