Yes I take your point, however price and MC are important to...

Yes I take your point, however price and MC are important to attract future investment in the company, Institutions and sophisticated investors want to see actual growth not only potential growth. A share price which is high and at a premium (implying a high MC above book value) finds it cheaper to raise further investment capital through further share issues, placements, JV (stronger negotiating stance) and other financial avenues (eg debt finance).

Moreover, disillusioned investors who initially entered on a long-term plan, too are affected. They notice that the opportunity costs are becoming far too high to sustain the erosion of their investment; and the close substitutes (to LPD - they don't need to be clean & green) are becoming more attractive. Eventually these investors are lost, and deterred from returning to LPD as there memories of the experience cut too deep.

Any rational officer of a company will strongly prefer - and admit - they want the company's value to increase because it makes their position secure and their job easier in respect of future financing growth; and for the wealth of SHs, in particularly those rusted on.