The reason corporations exist is to protect investors, not make them rich. A "limited liability corporation" made it advantageous for people to take more risks

The reason corporations exist is to protect investors, not make them rich. A "limited liability corporation" made it advantageous for people to take more risks than they usually would by giving them a guarantee they wouldn't lose everything they own if the venture failed. That isn't possible in a partnership or sole-proprietorship. In those if your idea tanks, you go down with the ship. The type of thinking you're espousing is the sort that bubbled to the surface in the 1980s where profit drove all decisions. No longer was there concern for the welfare of workers, for the long-term survival of the company, or anything, absolutely anything at all, other than making shareholders happy. Companies never succeed by simply making profits. They succeed by making good products. Then they're acquired by hedge funds that squeeze them for every ounce of profit they're good for and sell the remaining husk for pennies on the dollar.