It is typical of managerial arrogance and short sightedness which in the end, as it has since the beginning of the industrial revolution, does nothing other than to undermine the credibility of corporate America. At a time when The US faces increasing global competition - fighting among ourselves, especially in this foolish and doomed to failure way, only makes us weak.
Business is business and competition is a part of business.
But like anything, competition can be taken to its own extreme of idiocy. You're a revisionist idiot.