Except wizards don't view themselves as the "arbiters of ultimate power" over the Muggles. Statute of Secrecy.

Now Voldemort, I admit, would probably have done something like this once he took power. Or Grindelwald. But neither of them won, so... manifestly, no wizard has successfully seized power to rule over the Muggles (except maybe waay back and it got covered up) because the SoS is still a thing.