Remember Apple? And I agree that that 'while' would best be spent on quality and reputation instead of hype. If they do go into Chapter 11 at some point, that's what will have to happen, along with a change in leadership.
But part of Steve Jobs genius (yes he had flaws but people don't give him enough credit as a business man) was to hire exceptional managers and designers and let them do their thing. And that is why Apple became what it is and why it manages to coast along after him.
I don't see Steve Jobs having told Cook he doesn't know anything or ever having said "I must sign off on every purchase."