It does work though.

In the UK for example, we have the John Lewis Partnership (10.5billion GBP revenue), Co-operative group (11billion GBP revenue), and many in the 50+ million revenue bracket like Suma Wholefoods.

We've also had many major public or private corporations rescued from collapse by worker co-operatives that were able to maneuver out of problems that the centralised organisation could not. See for example Meriden and National Express.

Also, many people's financial services are provided by building societies and other co-operatives. Many of the largest banks have been these kinds of organisations at least once. HSBC for example.

That's just in the UK - it would be astonishing if there weren't many more examples disproving your conjecture from every other country.

The business are the owners. And, unless they are woefully mislead or incapable, the owners will vote what is in their best interest. If the best thing for the business is NOT to grow, because a majority are happy with the current state, then the business shouldn't grow, especially if that would require sacrificing the desires of some of the workers.

This is identical to how privately owned companies are often run, especially family owned small businesses, which can be extremely successful.

Profit is at best a proxy for success, it is not a goal in itself.

It works though, and typically when these cooperatives grow large enough they easily outcompete the privately owned businesses where the profits are siphoned out to people who contributed nothing and who have no knowledge or clue about the actual business. In cooperatives the owners actually know what is happening on the ground because they work in the company, and the profits don't flow out of the business.

https://en.m.wikipedia.org/wiki/Mondragon_Corporation