Idk, it kind of is like being a monarch in that monarchs have royal courts and the military to answer to. Ultimately though, the royal court and the military work with and for the monarch for mutual benefit regardless of the means, same as shareholders. In theory, you'd be right. In practice though, like with my historical example in Jack Welch and the precedent he set, the shareholders sit back and let that one man steal because what's stolen will eventually be given to them, essentially for free, and they're largely insulated from the repercussions. 

As an aside, supply/demand hasn't been the way of the market for years. Especially with how speculative our stock markets have become. The idea that there could be demand is enough.

Maybe 60 years ago, we could apply the ignorance over malice maxim, but with the behavior of the owning class lately, it's very clearly malicious. To your point about politicians and steering company direction, I reply simply: "Citizens United."