You’re pretty much getting it, this whole thread is based on some deeply flawed reasoning. The company gets some capital, buys back shares, where’s that capital

You’re pretty much getting it, this whole thread is based on some deeply flawed reasoning. The company gets some capital, buys back shares, where’s that capital going to go next? Unless the shareholders have decided that they no longer want returns on their capital, it’s going to be invested again somewhere else.