Nike was a brand and marketing company that convinces customers to buy cheaply made shoes and t-shirts at premium prices. Occasionally, some smart folks would help to make step changes to athlete performance.
Along the way, they drank too much of their own koolaid, and allowed too many talking salesmen to join the company, who then invited more of their friends, and ascended to the E band and leadership levels. Then they fired all the annoying highly paid shoedogs and innovative folks, and the good people left.
Now it is just a company of people who talk about how great they but have no idea how to do any real work to advance the company and shareholder value.
@ayc+1tiq91B9 is 100% right.