Fundamentally stock markets won the world of business, so everything has a horizon of a financial quarter.

Hence, every action of a company needs to be measured against the upcoming quarterly results.

OKRs et al are great at that.

Who cares about quality/sustainabily. We just want the stock go wheeeeee and get our bonuses.

Not sure about your opening thesis. The vast majority of employees work for privately held businesses and from personal experience of working in such companies, “management” by OKRs and the like is common in companies who are not listed on stock markets also.