You specified “shell companies” in that sentence. But I guess you intend to apply that more broadly, so answer this - what is the point of capital markets if the entirety of principal investment must go into a cash reserve account that cannot be used for research and development and other growth strategies?

You want to talk competence? How can any company expect to grow if they cannot use investor money to do so? What you proposed effectively nets out unless the stock appreciates (and that’s before considering inflation, margin calls, and a host of other negative consequences).

If we followed your proposal, we would have had negative growth since the Industrial Revolution. Well done.