Crony capitalism is generally not true capitalism because the "crony" basis for decision making extends to both government and private industry. That is, government decisions may be made in the best interests of a particular set of well-connected cronies, rather than the best interests of the market as a whole.
Defends of crony capitalism would not call it crony capitalism, of course, because the word 'crony' has negative connotations. In Japan, the system is known as 'kereitsu'. Such systems tend to have the features of an oligopoly.