> It means the business can't practically be sold

What? Of course it can be sold. To someone else who wants to run a mom-and-pop operation.

> might as well just go get a job for someone else.

Or be your own boss?

> That ultimately means that the business itself isn't worth anything

Are you serious?

> so when the owners decide they don't want to manage it anymore, it'll likely just have to fold.

Or they sell it to another person who wants to run the business?

You act like the only option is as passive investment.