John Hinderaker of Power Line writes a longish column about polling showing Americans don't favor DEI programs in businesses. They also believe such programs make the firms' offerings worse.
Hinderaker concludes with this question:
Why do companies tie themselves up in knots pursuing pointless (at best) DEI goals, when the whole enterprise is unpopular, and customers are likely to think they are making their companies worse, not better?
I believe Glenn Reynolds, aka Instapundit, has already answered this question. The people at the top of large companies socialize together and their elite colleges have sold them the DEI bill of goods.
Their peer group reinforces members who implement DEI activities hence they do so even when it injures the firms they lead because it enhances their personal esteem within their cohort. Plus, as they are wealthy, their ox isn't being gored by DEI-fostered prejudices.