A lot of bad strategic decisions over the past years came top-down from senior management. Making bad decisions is not really the core problem, it's ok to fail sometimes, the problem is that when these decisions backfire, senior management excels at avoiding responsibility. Deflecting (and in some cases silencing) critique, and letting others deal with the aftermath.
Because of this, it feels like the company is not learning from these mistakes. It's easy for an employee to feel like they are on a slowly sinking ship without any idea how they got there and even less of an idea how to fix it.
This results in Teamleader missing a bit of spark at the moment, from the right people (important addition). Unfortunately, a lot of "the right people" have given up and left, but there should still be enough out there to fix the ship.