A common critique of neoliberalism is that it pays lip service to adding diversity to traditionally high status/class/prestige careers and positions without disassembling the unfair power structures that cause those careers and positions to be so desirable. Hence "neoliberal diversity theatre" is somewhat separate from ostensibly selling out to corporate interests, because diversity theatre's goal is to advance justice along identitarian lines without removing injustice from the system; it's spreading injustice out among races and gender without addressing it as an intrinsic symptom.

Politicians selling out to corporate interests is the main mechanism through which those power structures are maintained and expanded, but the equality-charades are a necessary ingredient to make the main course palatable (for the democrats. Republicans are also neoliberal but use other wedge issues).