It has less to to with people having MBAs and much more to do with companies having shareholders. Once you're a publicly traded company there are overwhelmingly strong external forces that compell companies to increase revenue. Even if the business model is perfectly solid and it doesn't make sense to expect rising profits the shareholders only care about growth rates. On the stock market a companies value is only dependent on its growth.

Take Netflix for example. They've had so many users some years ago when they were basically the only streaming service that one might have said they reached market saturation. That would've been a money making machine that people could be content with. But since the market always needs growth it isn't enough and netflix is always trying to "innovate" or squeezie more monthly payments from the existing customer base.

cory doctorow has coined the great word "enshittification" to describe this process. And its driven by the need to grow further even though its to the detriment of the service or the customers. In the end it's the people with the MBAs doing it. But if they're not doing it the shareholders replace them with those that do.