If companies didn't have to maximize x% of the profit made on the investor's money per quarter/year, they will be able to focus on product/service, customer and employees more. It may result in less profit but it will be better for the society as a whole.
We can see this happening when some company is acquired solely for sucking money out of it. Sometimes it leads to worsening of the service/product made by original company, y% of employees get fired because new owners don't care about the product or the employees. Money saved by using cheaper but worse raw material and firing employees shows up as profit.
Because money is sole motivator, we end up over optimizing a company's operations around it. This could be seen everywhere when Covid started. Hospitals didn't have have back up PPEs. Auto makers didn't have parts/chips in inventory for emergencies. They're optimized to order the amount they need in immediate future, without any serious thought to contingency.
When an Amazon worker is asked to self x products across the warehouse in y minutes, like a machine without a thought to the well being of the worker, its because Amazon has to show profit to the investors.
We don't have product making companies anymore, we have stock making companies. They don't sell goods, services, they sell stocks.