Sure. But is it necessarily much better in any other system?
If we were to take a look at the USSR, where factories were state owned and had no profit motive, the factory managers arranged for themselves to have a nice easy life by overdemanding resources (and potentially underpromising results) to get the job done. This was great for the factory owners and workers, but not for society. Or one could consider the forced collectivisation of the farms, which occurred in part because the rural farmers were happy producing food for themselves and not much bothered about producing enough for the cities, leading to food shortages. One might note - let's use the USSR again - that the state literally poisoned its own people (and murdered them and sent them to gulags) to achieve production in the greater name of the state.
So if we take these three models of production: shareholder / capitalist, state run, and worker-run, in practice the interests of the people who run production frequently does not meet wider societal needs. This is not an excuse for capitalists to be selfish pricks, but it is to say that we would still have problems in making production work for the greater good with other systems too.