It isn't quite as decisive as a submarine imploding, and ceasing to exist, but it has turned into a brightly burning tirefire.
Twitter was previously a public company, which was beholden to shareholders, and aimed to try and increase its stock price (as far as "shareholder value" actually means anything, this is basically it). I wouldn't praise previous management (the company wasn't profitable), but they were not a complete dumpster fire.
Then Twitter was bought out, and taken private, removing the obligation to "shareholder value." The ensuing dumpster fire is one that will be marveled at for years.
I'm not saying public corporations are better than private, or that "shareholder value" is a good slogan. I'm just saying that your comment is every bit as irrelevant as the porn spam that's clogging Twitter these days. (Thanks for fixing the spam problem, y'all!).
Does it really though? Private shareholders are still shareholders. It replaces a diffuse duty to keep a bunch of public-shareholders happen with a possibly-more-direct "do what I say or be replaced tomorrow."
> "shareholder value" is a thought-terminating cliche
I think when people use it dismissively, it's not really about shareholders per se, but about one that are focused on short-term growth at the expense of long-term growth or a sustainable business model.