Well, true. People, I.e private companies, can do all kinds of silly things like respect their workers, or think about the future, or prioritise a myriad of things that aren't just short-term profits and investor pockets. For them, the term growth isn't just about revenue and a graph on the stock market.

That doesn't really work with a publicly traded company, especially when the people in charge get a bonus based on quarterly profits, even if the company makes decisions that destroy it in the future. Memory manufacturers know damn well this isn't in any way a long term sustainable situation, but they are making the most (money) of it while they can.