The Office was utopian compared to real-life Corporate America.
The kind of mean-spirited pettiness that drives actual post-2000 capitalism, and it gets worse the higher you go, is so depressing and repugnant that it can't be put on TV.
Also, characters with no redeeming qualities are considered bad writing. But most coprorate executives are people with no redeeming qualities. You can't put them in fiction; unlike a well-written villain, they'll suck everything into a hole. Even Bill Lumbergh on Office Space had his charms.