Manufacturers will do only what they're allowed to by law and even more. Expecting ethics from companies, especially (but not only) corporations, must stop. It's not going to happen, and it will only lead to further disappointment.
The issue is, it's really hard to come up with leakproof regulation. Companies have far more resources to look for loopholes than governmental agencies to design the law. An extreme example of this is the financial sector, where regulators have pretty much thrown in the towel. They just write vague law to be able to prosecute whatever after the fact.
BUT if we expect companies to behave ethically and act on that, then the incentives for businesses are effectively altered, and it's much harder to find loopholes in that.
It's just infuriating that we accept that we are going to get fucked by every company that can possibly do so, in every aspect of our lives. Humans run those companies. What can we do to stop this vicious cycle, outside of guillotines?
That doesn't mean we need to just accept it and let them do whatever they want though.
What it means is we need to change the system so that companies aren't putting profits first and instead require them to prioritize product quality, employee well being, and environmental sustainability.
Profit should be a distant fourth if it's allowed at all. Frankly the idea that some amount of value is just sucked out of companies by parasites who don't contribute to the company at all is just not right.
That's the problem. The current system blows, but what is the alternative?
(And no, I don't think you are right, so I don't think we should out-right extinguish them. But if you are right, we should.)
(That said, there has been examples in history when that happened. Of course, such corporation-like structures were only terminated by war. I really don't think we are anywhere near that today.)