>That's not necessarily true.
Sure, not necessarily but it is a common result and not a surprising one.
>Yet the market did not reward them and the shareholders are not particularly happy. While these pressuresfor public do exist at the end the incompetences of Unity's board and upper management are to blame.
Ultimately these moves end poorly for the business doing them. That's not in question. But shareholders are mad not because the move was made but because it didn't work as intended. Buying smaller companies to inflate your stock value short term while crippling the company with debt and bloat long term is an old tactic to maximize short term shareholder wealth so they can cash out and leave latecomers holding the bag. This lead to some famous company collapses when it backfired or when it drove less unethical executives to commit accounting fraud like Worldcom. But it doesn't always end up with such a spectacular implosion. Usually it just cripples the company and they get gobbled up by a competitor a few years later.
Its a common problem because the way the stock market works today doesn't necessarily align with its intended goals. The point was to let outside investors join in an enterprise they think was profitable and grow with it. But that's not the only way the game can be played. stock itself is a commodity and treated as such. I don't know how you fix that but doing so would go a long way to realigning incentives and preventing this kind of thing.