What is the purpose of a business though? To make profits for its owners. If the profit lies in doing all this corporate theater then that's the business. A company that focuses only on providing a service and product but ignores how their customer needs to use said service and product is going to go out of business.

That is "a" purpose of a business, but not the primary purpose. The primary purpose of business is to provide a service or product people want. You can want profits all day long but if you don't have something people want you don't have a business.

I would argue that profits are a result of what you do and not the purpose... Obviously intertwined but that's why its important to pick something you like