I agree. But is it a false statement?

It's the tired pattern of absolving the direct bad actors (the corpos themselves), as well as corrupt regulators who give them a pass, in favor of diffusing the responsibility onto individuals. If we're talking about collective action to solve the problem, it should be more of the form of demanding regulation that directly stops the bad actors, rather than this nonsensical fallacy from the same vein as "voting with our wallets".