I mean, dividends no? I would wager that most people care more about investment income than voting to approve a board member they probably never heard of.
But for the system as a whole, it's pretty important that the shareholders have the ability to vote for board members who will protect their interests, even if the power doesn't get used very often. That's why the SP committee is pushing back against multiclass shares...if the company's management controls the voting shares then they control the board which is supposed to be overseeing them, removing even a vague threat of accountability in a system that's already far from perfect.
Of course it's rational enough from the CEO's perspective - if your shareholders don't have any leverage over you, why would you give them money?