You are comparing an idealized version of one system with reality-fied version of another; the an-cap that Rothbard was describing doesn't have much private repression by the wealthy. Idealized to idealized, they are all great. FWIW in reality, I think both will quickly evolve into control by gangs, then larger gangs/cartels; then either the latter will gradually develop manners and it will become something like feudalism, or if there's a strong contender + some symbol to rally around like religion or the old state itself, mafia state. Source: pretty much every place with central government that cannot reliably enforce law, from the remnants of Western Roman Empire to China 100 years ago to Russia 25 years ago to, it appears, modern Mexico or South Africa. And they still have/had some governance going on, at least. I don't think less governance will suddenly reverse the direction they were/are heading in.