They'd privatize ownership. There isn't really an in-between option. Skipping straight to communism isn't possible as long as there is capitalist imperial hegemony as the workers would become disorganized without a state and unable to resist colonization.

The state is a tool to be wielded either by workers or capitalists, one day that contradiction will be resolved and what comes after will look a lot different as both capitalists and proles will cease to exist as classes.