Not the parent, but I have a thought on this. While workers would be able to prioritize things other than profit, I don't think they would. From an economics analysis, we're really just redefining profit as benefits to all corporation members instead of to the owners. Imagine a middle manager has to choose between hiring a factory that is cheap but has a bad rights/ecological/legal record and a factory that will be more expensive, but is proverbially clean . At a top owned corporation they have no personal incentive to maximize profits, but if they own part of the company, their own compensation will increase if they take the less ethical option.

Note: I generally think a distributed ownership model for a company leads to better health and production in the long run, but this is probably a case where it's worse. When incentives are distributed, and those incentives are perverse, you just have everyone bearing the pressure to enact unethical business prectices.