You could still be doing a bullshit job, though. Shareholders are institutional nowadays and what they ask for can very easily not be aligned to their needs. Not to speak of needs of the wider society.
Pension fund manager wants bonus, not to ensure livable conditions for the next couple of generations whose funds he's managing.
There are lots of jobs that make the world less livable but are clearly not bullshit jobs. Like if you work in marketing at a cigarette company you are probably a bad person, and you are advancing bad goals, but you are doing real, non-bullshit work every day.
The bullshit job concept is not "this is making the world worse off", it's "no one would notice if this job ceased to exist".
There is a real theory out there that index funds are making companies less cutthroat and competitive, but there's pretty limited evidence to support the theory. And if you can identify any companies with a notably high amount of fat to cut, there's a lot of money to be made working for an activist investor trying to get those companies to fire all their bullshit workers.
If you can't identify such companies, you may just be a bullshitter yourself though.
Pension fund manager wants bonus, not to ensure livable conditions for the next couple of generations whose funds he's managing.