SWE salaries are a massive cost. Improving productivity is one way of offsetting that cost. The examples provided for "don't care about productivity" are things like open office plans- where a certain amount of productivity is sacrificed while offsetting a different cost (building space).
Yes, it is fair to say that managers and executives do not care about productivity to the exclusion of all else. It's something of a pointless statement, though, as I don't think anyone actually thinks that.