We have discussed the problems with historical materialism, hence mode of production theory, many times here, and have offered a different historical model that can be useful for initiating a socialist/communist set of initiatives irregardless of the crypto-teleological theories of Marx.
The point here is that the succession of epochs hypothesized by Marx from primitive communism onward doesn’t really work and subjects marxism to attacks on its foundations. The whole scheme should be scrapped, although it can redone in other forms, in favor of something that is not a set of ‘historical laws’, instead a field of free agency. Here the basic issue is not the epoch of ‘capitalism’ but the epoch of modernity which spawns a capitalist deformation of the modern transition and which also spawns a response in the form of revolutionary socialism/communism, which spring from and must complete the basic democratic revolutions.
In this perspective we don’t have to wait on the progression of economic epochs but are free instead to apply a communist solution to the crisis of capitalism we find now. This is what ‘democracy’ should have been from the start: a class analysis, an economic analysis, and hybrid of socialism/democracy moving toward a conclusive constitutional communism with an economic system under definition in the context of the expropriation of Capital.