You are confusing value with money. Alice doesnt have 3million, she has something that someone will give her 3million for. She has to sell the asset to get the money. If the bad earnings come in, and no one will give her 3 million anymore, then nothing happened to the total amount of money, her asset VALUE decreased.

Value isnt money. Value is how much money someone will give you for the object.

Or in the original example, there is 3 million dollars and 1 million $3 shares. If the bad earnings come in, then there is $3 million dollars and 1 million $2 shares. The values changed, not the money. If alice sells, then there is $3 million (2m alice, 1m bob) and 1 million shares (bob) worth $2 each. Nothing was destroyed, Alice prob feels poorer, bob may feel richer, but nothing except ownership has changed. There is still $3million and 1 million shares.