You raise a good point but you are too generous. The buyer tends to be mercenary. I think generic "professional" management only ends well in mature products and companies, where the main task is to increase efficiency. I don't expect the buyer to innovate the product.
Conglomerates are IMO almost always mercenary and damaging, yeah.
They're far from the only company purchases happening though, e.g. many small companies that grow too quickly sell to something larger to simply have the manpower and money to handle the new scale, and sometimes that ends up better for everyone. You just don't usually hear about these because they quietly work, and they don't involve globally-recognized names.
