Its a particular framing that I think we can say does not guarantee any kind of result of profitability, but seems particularly enshrined in modern management culture.
It’s enshrined in a management culture that has largely conquered labor through a mixture of anti-union measures and taking capitalism global so that they can pay as close to zero as possible for labor in other countries.
Sure, the products and services (and the country) all suffer, but nobody really seems to give a shit about that.