I think this is because of the massive pushback in recent decades to Milton Friedman's essay “The Social Responsibility of Business Is To Increase Its Profits,”

I think this is because of the massive pushback in recent decades to Milton Friedman's essay “The Social Responsibility of Business Is To Increase Its Profits,” where he put forth that the most net benefit would be provided to society if firms focused their efforts and resources onto their core competencies. Now, people think that is distasteful and that businesses should be doing all kinds of things like charity work and soup kitchens and funding housing developments and schools and so on so forth. This is called "stakeholder capitalism". It produces the result you describe.