I think we're talking past each other. I am not saying that people shouldn't be upset that if they donate to an organization that a large portion of that money might go to things they rather that organization not do. Like a $100 donation might have $20 of overhead or waste.
What I don't get is why people don't think the same for for-profit enterprises. If I spend $120 a year on some SaaS, I don't ask what portion of that goes into the CEOs pocket who might use that money to buy politicians to advance tax policy they prefer, or government contracts against the public interest, etc.
It's not about the expected value of a product, it's about what else your money funds when you hand it over to a corporation that people rarely consider. They should consider it just as much as they consider donations to non-profits.
Also, the assumption of a healthy market is not one I would take. A lot of corporate money is spent on regulatory capture and other ways to prevent a healthy market. Funded by customer spend. A purchase is against future value in the same way that past purchases are what allow companies today to make markets less healthy.
While I get what you're saying, I think it's exactly in that the expectations are different between a donation and a payment for product/service.
You pay for an existing product/service and expect that product/service to be fit for a need... that's generally it as far as expectations go... some may actually care about a company being a bad actor and boycott etc, but that's secondary in and of itself. You immediately get the product or service that exists.
A donation, is against expectations for results... though there may be other reasons to donate to a cause/charity.