yep, public companies have report cards every three months and need to show "progress".

All depends on how you measure progress. If someone starts asking "what's the next-gen product" at board meetings you may see some real progress.

After listening to Apple's and HP's earnings calls, I think progress other than margin or revenue is lost on people who matter in the financial world.

The other important measures are also more falsifiable, and more changeable between companies and industries. Every company has margins and revenues. You could argue that investors ought to understand the businesses they own, but that doesn't mean they will.

Let's hope this behaviour is self-limiting.