Absolutely, but fiduciary responsibility, has never and was never intended to mean absolutely maximizing profits and especially at the long term expense.
That was a twisted idea that was put forward in the late 70s early 80s as a means to justify destroying companies for short term gain.
Honestly? Most large companies are more like high school. It’s all, friend groups, people rubbing each other’s backs, and in-fighting between departments.
A lot of VERY LARGE decisions get made for the stupidest reason.