(According to the theory) it
is a terrible way to live, because everything the Clueless believes is false.
The Clueless believe their work makes a difference, but it doesn't. They believe it matters they do a good job, but it doesn't truly matter except for the advancement and power plays of the Sociopaths. They believe themselves "company men", and are loyal to a company that despises them and sees them as completely expendable.
The Losers understand this, and therefore devote their energy to other things outside work, where they find meaning in life.
(Again, I understand this is what the theory states and doesn't necessarily reflect reality. But I do think there's a kernel of truth to it.)