Some instances let others work as mods, or even with some admin privileges. However, at the end of the day, each instance is beholden to the head admin unless they were set up differently. The only instance I can think of with an organizational structure beyond autocracy is beehaw.
You're also trying to insert economic descriptions to a political system without economics.
Part of the reason why I'm arguing against economic terms is because it doesn't really give context into the power dynamics in how an instance is run. At the core of most instances on Lemmy, a head admin dictates the rules of their instance and it is take it or leave it for everyone else that wants to participate.
Think of it like this, if the head admin wanted to make a decision against all other admins and mods, what would happen? Likely, which has happened previously to other instances on Lemmy, the head admin wins out and everyone else either conforms or has to leave. Labor doesn't become ownership.
Unless an instance has a corporate structure which distributes power, it is an autocracy by definition.