That's not the "root", you can go at least one step further:

The wealthy CEOs and boardmembers found a way to make even more money, but know that it will make the people who are aware of it angry. So they, as a class, find other issues that they can enflame (or manufacture wholesale), through the manipulation of social media algorithms and legacy media, both of which they own and control. They would much rather have "ordinary people" angry about trans athletes or immigrants, than about the surveillance state they profit from, or stealing our data they profit from, etc...

Unfortunately, we humans are very easy to manipulate by making us angry. If "ordinary people don't make enough noises for any problems they see in life", its hardly our fault if we're too busy surviving in the current economy, and the elites are spending billions to make us angry about anything except the elites.

There's a limit to how much angry people can be. Dilute it on irrelevancies, the anger directed at the real problems goes down.