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I don’t think we have any reliable polling data to say what the approval rating of the government was during the Great Leap Forward. However, Mao did lose a lot of influence within the CCP as a consequence. As such I think it’s safe to say there was lots of dissatisfaction at least within the party itself.
As for why the CCP doesn’t drop their communists principles it’s simple. They’re still communists who believe in Marxism-Leninism. They just don’t have a principled aversion to markets as long as they’re useful for raising living standards and economic development.
They do however have an aversion to political liberalization. This was in part informed by what they saw as a failure of the joint market and political reforms happening in Eastern European socialist countries. The CCP’s fear was that political liberalization would empower a nascent capitalist class which could lead to economic disaster. I don’t think they were necessarily wrong in this regard as that’s exactly what happened to Russia only a few years later.
If you want the CCP to stop what you see as a silly socialist experiment you’ll have to give them better reasons to. The CCP isn’t irrational. They’re just working from a different set of assumptions than you are.
I would call that class in Russia a nascent criminal class, not capitalist class. But if you're inclined to think from the left, perhaps you equate these classes.
You're right that that group indeed caused a catastrophe in Russia's liberalization attempt. Some sources claim that Putin has absolutely no interest (and therefore, probably, knowledge) in economic matters, which might be one of the reasons why he failed. Argentina and Milei will perhaps show us soon if liberalization will work better if the person leading it is interested in economics. Argentina's and Russias GDP per capita has been roughly similar after Argentina's crash in early 2000s, so the countries are at least in some ways comparable.