Also, Vanguard is run as a sort of cooperative where it is indirectly owned by the fundholders, which is why they were always incentivized to LOWER fees. The founder of Vanguard (Jack Bogle) probably left tens of billions of wealth on the table by creating that model (and he had no regrets, FWIW).

There are concerns because by default they usually cast votes by board recommendations and since they have such a huge stewardship of the stock market it means others can have more direct influence, but Vanguard itself is otherwise as neutral a stock ownership intermediary as can pretty much exist.