> Profit simply means other people find it valuable enough to compensate you to use whatever you’ve made.

In the spherical cow in vacuum market maybe. In practice there is rent seeking, profiteering, corruption, nepotism, etc ...

Late stage yes. But design has created the most valuable and profitable products and companies in the world.

Apple Ferrari Google Porsche Smaller companies like Yeti or Braun Etc etc

Once they use design to achieve dominance yes they do the rent seeking you are talking about.