The CEO at one of the places I've worked basically screwed over 80+ people to get his retirement package [sold the company; his equity was worth millions] and they blindly trusted him right up until the day he did it. Those 80 people were laid off shortly after and the jobs were moved some place cheaper and/or into the buying company.
I think the thing is the "dumb ones" stop playing nice before it is the final round of their career and they have years/decades for it to catch up with them.