Seriously? If a company is publicly traded, they're legally required to prioritize shareholder value, unless they're a benefit corp or something with multiple bottom lines. I suppose you could call it values-driven to drive up the bottom line, but that's not normally what people mean.
IANAL but no, executives are not actually legally required to increase shareholder value.
They generally are aiui. Bluesky was formed as a PBC, which is basically a corporation where investors cannot sue for deralict of fiduciary duty.
https://en.wikipedia.org/wiki/Dodge_v._Ford_Motor_Co.#Judgme...
Allow me introduce you to the inception of enshittification
The section you linked to says the decision was non-binding, and the next section includes multiple quotes disputing the idea that such a legal requirement exists.