Honestly this is not respectable, this is just bullshit to appease the investors.
The respectable thing to do after flat out saying that you don't understand large precentages of the market would be to let new people rise to the top of your company to help it better understand the current market.
But instead they're like: LOL, we don't understand the market, but it's ok, see we're paying for it by cutting our salary. Now everything's fine, right? It's not like we even need that salary cause we all have stock options but at least it sounds impressive: "Iwata cuts his salary by 50%", great isn't it?