It's more that it doesn't take depreciation and destruction into account - the broken windows fallacy.
Annual change in National Wealth (an obscure metric, because it's so difficult to quantify) is a closer match to profit - after performing all your activities, how ahead do you get in terms of infrastructure, education, durable goods, etc.? Whereas GDP measures the amount of activity, in the same way as revenue or expenditure is a good way of estimating how much work is getting done at a company.
Annual change in National Wealth (an obscure metric, because it's so difficult to quantify) is a closer match to profit - after performing all your activities, how ahead do you get in terms of infrastructure, education, durable goods, etc.? Whereas GDP measures the amount of activity, in the same way as revenue or expenditure is a good way of estimating how much work is getting done at a company.