In the end, maybe. As you noted, corporations spend money on employees but also goods and services, so it doesn't all end up in a corporation's warchest account just sitting under a mattress as cash. In the interim however, it went to things like food and gas to survive, among other things. The fact that, due to shutdowns (whatever your opinion of them) that the money was needed by some of the countries' poorest members to not go hungry (and I'm sure some did anyway), but we had no good way of determining exactly who needed that and who didn't.

What it comes down to, is really which inflation numbers you believe, as the numbers really run the gamut as well as their causes if you really dig into the reports and the details. If inflation only looks high due to used cars being wildly expensive these days due to the chip shortage vs inflation causing cheap staple goods to increase in price, then that'll change your conclusion of inflation's effects.

Still, if we want a stimulus to go places other than corporations and CEOs then we need to dramatically rework how the economy works, including food distribution, and de-corporatization and strict limits on CEO pay.