Is manchester capitalism a proof for the negative impact of austrian economic school of thought?

To the best of my understanding, Austrian economics and Manchester capitalism share several core principles, such as a commitment to free markets, the rejection of government intervention, faith in the invisible hand (à la Adam Smith), and an emphasis on individual action.

However, Manchester capitalism led to severe issues: widespread poverty, inhumane working conditions (child labor, 70-hour workweeks, lack of safety regulations), overproduction, and massive social inequalities.

If we assume that Manchester capitalism adhered to the fundamental “rules of the game” espoused by Austrian economics, does this not serve as a compelling demonstration that Austrian economics might be overly idealistic and potentially socially (and economically) harmful when applied in practice?