It solves the basic problem of stabilizing the shareholder group. No more infighting. Important to your point, this method makes it difficult to stray from the

It solves the basic problem of stabilizing the shareholder group. No more infighting. Important to your point, this method makes it difficult to stray from the real valuation. If Alice really wants out, she does not value the shares as much as Bob. Her just valuation will be viewed as a good deal by Bob. The scenario you define probably will not happen. If it does happen, then by definition Alice actually valued staying with company.