Why don't craft brewers go public?

Isn't there a need to satisfy investors true when you have private investors who have a financial stake in the company? (As is the case for many well known breweries.)

Also, why would an IPO "inevitably result in worse product?" Duvel did not get worse when Duvel Moortgat had an IPO to raise capital for their growth, in fact they improved their offerings, bought and saved Leifman's from going out of business and were eventually able to buy back their outstanding shares from the IPO at rates that made me wish I'd bought some of their stock. That buyback also took place not long before Duvel Moortgat bought full ownership in Ommegang, and put in place ownership arrangements with Boulevard and Firestone Walker. None of these beers and breweries have shown a decline in quality and are more widely distributed than before.

 

Publicly traded breweries are beholden to shareholders, and shareholders are generally not brewers but rather folks simply looking for a return on their investment. This causes public breweries to make decisions that ultimately prioritize generating the most profits, which can erode the spirit and integrity of the entrepreneurship.