"They don't expect to take on responsibility"? No. It's just that most of the time, employees having a say in leadership decisions is a pipe dream in practice,

"They don't expect to take on responsibility"? No. It's just that most of the time, employees having a say in leadership decisions is a pipe dream in practice, ergo: Paid in shares = all of the risk and none of the authority. And people don't like to get played.