It isn't so much that I think the criticism is wrong. Many people do think they could more effectively do something in a different area. But this isn't a stack thing. People are largely ignorant of a ton of work happening everywhere.
You see that ignorance quite commonly in stuff like climate activism. Young activists are convinced that nobody is working on the problem. And to be clear, it would be nice if maybe more people were working on some problems. But please don't ignore the progress made by a lot of hard work, in the meantime.
But back to "why companies keep failing." I could as easily assert that big companies fail when they stop pouring money into growing. Wouldn't be hard to build an argument that the more "funny money" is at play in a large company, the more they are stifling innovative ideas in their walls. Of course, if you pour money through leveraged debt, some day that comes due, as well.