Shareholders of large corporations, are, in my opinion, a "parasitic class".
I believe buying shares in early stage companies improves the world, since it helps new technology and new efficiencies form.
But at some point, after the IPO, it just becomes endless "extraction of rents", and it is what leads to "enshittification" (to invoke Cory Doctorow's term) of everything. At best, it is a zero-sum game, where hedge funds take everyone's money (see the movie Dumb Money about GameStop short squeeze). And of course, there is even regulatory capture, with 2020 bailouts by the Fed exceeding its mandate to bail out the stock markets.
It would be great if future IPOs would be replaced with ICOs, where the shareholders would actually be bought out by utility token holders. If you need a metaphor or example, imagine "Disney Dollars" being used to buy out shareholders of Disney, Inc. The Disney Dollars are actually bought by customers of Disney World, Disneyland or Disney online platforms, who pay for actual things, and they get paid out to people working in Disney World, Disneyland, or on Disney IP. The people who visit Disney World or work there actually care about things like paid health insurance, or the quality of the local water, etc. It's more democratic. But the shareholders don't. They'd be glad to fire everyone and replace them with Westworld-like robots if it increased profits and dividends.
If cities had their own currency, then they wouldn't go bankrupt like Detroit did. Once upon a time it was Motor City, but then all the factories got automated and the money for cars went to shareholders around the country. It gutted the economy of the city. That's what happens with shareholders of large concerns that have "made it" and went IPO.