I don't see how any of your points don't apply to 'having shareholders' equally. A board management can elect a leader/ceo/dictator if they wanted (and from th

I don't see how any of your points don't apply to 'having shareholders' equally. A board management can elect a leader/ceo/dictator if they wanted (and from the sounds of it probably should). Just like having a company run directly by shareholders is probably a bad idea. Having a company that is 100% Owned by the same people that it employs does not make a decision on how it's run, it just aligns workers and shareholder interests completely.