They are welcome to make stuff that nobody wants. Weird designs, made poorly and disintegrating in months.

But then the share price drops.

ie: the market capitalisation drops.

They then have to pay more money to borrow.

Fewer investors are interested in giving them money.

The business spirals into irrelevance like Ken Olsen's Digital Equipment Corporation.

Restructuring happens

Employees lose jobs.

Restructuring happens again and again and again.

Employees lose jobs, more jobs and still more jobs.

Unpaid suppliers go bankrupt.

Finally they shut down and become an irrelevance like Nike, 777 Partners, DEC, BioXcel Therapeutics, Lycos, First Brands Group, Yahoo.

You're missing one aspect: Nike relentlessly promoted wokism. It triggers 2 parts: Gives you less time to market to WASP; It makes your shops the first in line during mass unrests, which in turn floods the local market with cheap versions of your shoes.

Those big ads subtitled "Black culture" with a body-positive woman, on a 30mx30m, hung on the scaffolding of a magnificent Haussmann-period palace, it does have an effect on customer identification to your brand.