This is a very modern, 21st-century, understanding of the legal obligations of a corporate board. Historically, corporations were understood in very different terms. And society was better off for it.
In any event, the notion that the best (and only) way to maximize shareholder value is to make as much money as possible is remarkably shortsighted. I don't mean to point the finger at you in particular; this is a much-heard mantra these days. But it is hardly a given precept of capitalism. Not that long ago, a board that sought to maximize short-term profits at the expense of long-term value would be accused of gross mismanagement -- by the shareholders!
Maximizing shareholder value is definitely not a 21st century concept. It was commonly accepted and taught in economics and corporate finance classes in the most prominent business schools in America at least as far back as 1970 and has been a mandated bedrock principle of stakeholder governance by the SEC and other government entities for at least that long.
There is definitely a point to be made regarding the differences between long term shareholder (or stakeholder) value versus short term. In the age of people checking their stocks hourly on a smart phone, cooperate America has certainly gone from being focused on annual reports to quarterly reports to now monthly reports.
You seem to make the point that suggests that Disney is sacrificing long term value for short term profits. I ask this question: where is the proof of that? Is there any proof that the changes that have come to Disney Parks over the last 10 years (Fast pass plus,
MDE, Genie Plus, etc...) have hurt Disney's long term value? Other than a global pandemic that was accompanied by some government restrictions to operations has shown a long term trend of strong attendance resulting massive revenue and profits. Even after the same complaints year after year from Disney message board super fans for the last 10+ years the parks continue to be packed, the Disney resort hotels continue to be filled and Disney keeps making money.
People have to realize that just because a Disney super-fan doesn't enjoy WDW as much as they did in the 80's and 90's, that does not mean there are not literally millions of other people lined up behind them that can't wait to take their first ever trip to Disney. Way too many message board Disney fans mistake their own nostalgia regarding the way things used to be for the only way things can be done to make people happy.
For those of us in our 40s, 50's and 60's who have visited WDW 10+ times, we may not like to be on our phones all the time and maybe we would prefer to walk into the park and just walk up to a kiosk to get a fast pass, but there is a whole generation of potential WDW customers for the next few decades that have gone their entire life with a handheld computer in their hands who are very comfortable ordering food on their phone, shopping on
Amazon and existing in a world of micro transactions. There is a strong argument to be made that Disney has created a digital infrastructure, and is transitioning to a mode of operations that represents massive value in 2030 even if it doesn't look much like our fond memories of 1975-2005.