We couldn't function at all if all companies failed to do work properly because of some odd decision about what's a cost and what isn't. If you have a toll bridge then fixing the bridge isn't a cost....unless you actually WANT it to fall down.
Having said that, "value" doesn't have to be measured in euros. I personally work in a semi-governmental institution, and the main focus of my team is reducing the amount of cybercrime in my country. I still need to provide that value to earn good money, but I enjoy that more than working to make investors rich (there's nothing wrong with that though, and it usually pays better).
[1] anecdotal, among my social groups, I don't really have hard data about this.
Also the part where employees have to constantly justify their own existences. I just want to work on interesting things and be left alone.
(To be fair I am exaggerating a bit, and I think the author is, too. I don't think the reality is as bad as presented.)