I hear arguments like this on HN all the time. This seems similar if not the same as, "CXO has a fiduciary duty to <do something terrible>".
How often do execs actually get punished for _not_ doing something terrible? I never seem to hear about cases where they are held responsible for not following fiduciary duty. I only seem to hear it brought up as a justification for shitty behavior.
I'm not trying to say it doesn't happen. I'm genuinely curious.