To be fair, the founder didn't want to do IPO and according to rumors that was the reason why he was kicked out. All the toxic workplace stuff was just a narrative tool to make it happen more easily.
Also, it's a public market. No one is "holding the bag". This may be true if Uber crashed before the IPO because private investors can't easily sell, but once on the public and liquid market, it is the public investor's own choice to invest or divest in these companies.
I think he was arguing that the execs at Uber didn't really care about the toxic workplace stuff until Uber's founder said he didn't want to IPO, then they used it as a way to kick him out.
So basically the workplace is toxic, but that's not the real reason why he was kicked out (according to the comment you were replying to).
He effort you have him ousted was led by Bill Gurley of Benchmark and several other VC investors in Uber. Essentially the board asked him to step down and he did.
If you look it up, there are plenty of articles of rumors saying that the VCs schemed to kick him out because they wanted to IPO and the founder didn't.
Also, it's a public market. No one is "holding the bag". This may be true if Uber crashed before the IPO because private investors can't easily sell, but once on the public and liquid market, it is the public investor's own choice to invest or divest in these companies.