What we actually see is a system of chartered extraction. Corporate executives are like Norman lords, granted their 'title' (CEO of instead of Earl of) by shareholders (rather than a king) in return for which both are/were expected to extract maximum value by any means necessary. Extractive tactics often at the expense of long-term product strength are behaviors shareholders expect if the CEO is to keep their bestowed 'title'.
Don't forget the progenitor joint stock company The East India Company, Capitalism in it's purest form without government restriction. Profit-maximizing, absentee extraction, with company executives serving as quasi-feudal lords over assets and people. Modern corporate capitalism is hard to distinguish, in its structure,history, behavior, and incentives, from the Norman extraction system, it's just dressed in a more politically palatable wrapper and forced to mellow out from it's desired East India Company style final form.
Well in some perverse sense, I'd say Meta qualifies here. Zuck isn't beholden to other shareholders and is free to burn truckloads of money on worthless projects. The big asterisk is that for Meta, "improving its product" is effectively "creating the best digital cigarettes".