Does the stock exchange price of long issued shares really matter in the success of the company? If the stock price of the company goes down, no money actually

Does the stock exchange price of long issued shares really matter in the success of the company? If the stock price of the company goes down, no money actually exits the company. You may have an issue in executive retention if bonuses are tied into stock value (but is that really a problem if they collectively didn't deliver value to the company?). If you're trying to buy other companies it also may limit your options there too. But in terms of generating revenue, I don't see how the stock price has any direct impact.