It’s not good but it’s commonplace for every company these days to be a {whatever pumps the stock price/gets us the most VC interest} company that does {original business model} on the side.
Good CEOs say they're a {whatever pumps the stock price/gets us the most VC interest} company, but continue to invest and excel in being a {core competency / original business model} company.
Bad CEOs confuse the Kool Aid for water.
My personal theory is we’re experiencing people who came into senior leadership in the 2010s and could make money even with poor choices by riding the hype cycle and we’re all paying for their one year of experience ten times.