You can't withdraw labour as a protest to someone else getting something you aren't. That's just childish.
As to the criticism that just accepting it is contributing to poor management... well... I'm sorry but try living in the real world. As employees we do not have a right to a say in how those running the company are chosen or paid.
I've seen many a mention during my time in this company of the ATCO "God Complex". Until recently I'd never seen it manifest with quite such regularity.