My take on this is no they don’t. As long as they are truthful they only report on the quality of the product and prevent many people of spending a lot of money from losing it by buying something that doesn’t work.
If your product is shit your company does not deserve to be shielded from the backlash, this is the core of (classic) capitalism after all.
He makes a pretty good point near the end of the video where he claims that reviews are only a catalyst, and only speed up whatever trajectory the company is already on. Assuming that the reviews are honest and objective I agree with this point 100%.
Ultimately the quality of the product or service on offer steer the ship, the reviews are just the wind.