No it isn't. Shareholders have no interest in owning a failing company, it is in their best interests for the company to be sucessful and profitable because they are the ones with skin in the game.
Shareholders demonstratably don’t care about dividends since many large companies like Amazon/Uber don’t have any, aren’t even ever going to be profitable, but just have a really cool story.
But theoretically shareholders don’t care about these things as long as the company will grow a lot in the next 30 years. There are some alternative stock markets set up to encourage this.
And stockholders hardly exercise their powers. CEOs tend to not get fired.
