Crony capitalism is about distorting the markets so that the cronies can accumulate financial capital. That strategy only makes sense in a capitalist context.

Ah, thank you. I wasn't aware of that nuance forming a key part of the accusation.

In a centrally planned economy, the cronies would be accumulating some other type of power.

The political cadres in communist systems were/are exceptionally wealthy. Wouldn't that also fall under crony capitalism?