Earlier quoted context omitted.
It's repeated very often that companies maximize shareholder value, but that's not really true. Companies follow the personal interests of their management and employees, in proportion to their power within the institution, which sometimes involves shareholder value.
Ye. The belief in the "invisible hand" is strong. Boards and executives are not more rational than employees in general. Why would they not do things because they e.g. feel good about it or want revenge - like they were some super human well oiled machine.
- Interests of the shareholders and other stakeholders, who most likely cannot agree on most of their goals, but they will agree on "money = good";
- Competitors who wait for the company to make a mistake they can exploit to get ahead, or possibly kill the company
Combined, these forces all but ensure the company has no choice but to be a amoral profit maximizer, or die.
A different analogy, that doubles down on "corporation is essentially an AI" view, but may make it easier to explain the main point: if you apply Maslow's pyramid to companies, most of them do not have their Physiological and Safety levels met. They operate in survival mode. Rarely, a company "feels" secure enough to ponder long-term visions or some ideals that aren't directly survival-related.