[nullc]

Because the asset is worth the net present value of its future cashflows. Unless you take over the the thing and liquidate it, the value of the property is far in the future... so arguably the takeover and liquidation increases its value.

PE here acts like a fungus unlocking the energy stored in dead trees that have fallen to the forest floor. :P If this is good nor not depend on if you're one of the creatures that has made their home in the log, if you're the fungus, or if you're the newly growing shoots that appreciate clearing out the obstructions.

[skeeter2020]

I debate if PE unlocks or unsustainably accelerates. I think it comes down to should a small minority get very rich quickly, or should a going concern support a much broader ecosystem. I have seen PE "wreck" a few companies first-hand, so my selfish preference is the former.

[nullc]

I have less of an opinion on specific cases or even the overall effect-- but I do think it's important to realize that there can be non-incidental public benefits or even when there isn't a benefit specifically that the outcome was sometimes inevitable and in which case if you're to attribute fault to the PE it ought only be for the acceleration.

[s1artibartfast]

Not every case is a success, but the bad ones are hugely over represented in the media.