the Ottomans conquered it while european capitalism was in vitro. they'd made a classic centralized empire, which was much better than the europeans & southern medd at the time (though the Mamluks were fairly sophisticated, they just lost the wars).

i'd argue that a centralized imperial system was more sensible, stable, and successful (until the 1700s-1800s) than the increasing role of burghers and capital in the european systems, unless you had the foresight to know the outrageous failures of the business cycle have a progressive motion of accumulation beneath them that would eventually grow to heights that surpassed an efficient pre-capitalist tax assessment system.