> By his own admission he could have steered things better if he'd been more involved
My reading is that back when he was full time, he was busy with actual product work and coding, and he could have possibly made a difference by going political, but there would have been no guarantee and it would have taken a lot of his time.
Siding with the in-group and perpetuating the bureaucratic structure is one way to ensure that you stay employed.
Even those that really resonate with a product they work on don't necessarily view said product as their dream calling or calling in life. Maybe the knowledge and ideas from the industry are useful but not necessarily what they are used for (for a topical exmaple: I'm sure meta has top VR engineers working on some of the most boring, least ambitious apps you can imagine).
If all that can happen at the non-1% level of society, I'm not surprised it happens amongst the wealthy elite, especially those whose job is to try and make the most money for the next quarter.