I can't address the broader point you're making. I stick to the shallow waters of economics and business and cracking wise.
However, I do know that businesses run best when the government stays out of them to the greatest extent possible. If the board of General Electric suddenly had an inspiration to hire Carrot Top as the new CEO at $70 million dollars, I don't think the government should pass a law banning Prop Comics from running Fortune 500 companies.
Anti-trust arguably is. Child labor arguably is. But executive compensation is not. That should be a matter for shareholders. But if no one acts, that still doesn't make it right, or a proper public example. If the shareholders cannot act, or are prevented by clever rule from doing so, it falls to those of position to act, as they did in the past. And remember that past, again, of robber barons, corrupt police depts, city halls, and nepotism up and down the line of government service. It took an unofficial hand to keep 'up appearances'. That seems to be lacking today.