That characterization might be over blown, but it's functionally equivalent to reality because hostile takeovers are a thing. Any board of directors that isn't

That characterization might be over blown, but it's functionally equivalent to reality because hostile takeovers are a thing. Any board of directors that isn't ruthlessly maximizing profit is likely to be replaced by a temporary majority of anonymous shareholders with no attachment to the underlying company beyond whatever quick buck they can make off the stock.