The one area you are incorrect, unfortunately, is that baseball teams are not corporations... well at least all but four (
http://www.forbes.com/2007/02/16/baseball-team-ownership-biz-cx_mw_0217baseball.html). The article is old and I think the Cubs are no longer owned by a corporation either. So this means that unfortunately the Wilpons can do whatever the hell they want because its their money. If the Mets were owned by a corporation I suspect the Wilpons would have been tossed a long time ago and to your point probably in jail. I agree with the rest of your post.
I don't know what it is about NY state teams and owners. The Bills had Wilson who, god bless his soul, either couldn't afford to compete or didn't know how to compete in the new NFL world that is entirely salary cap driven. I have a TON of respect for Wilson as he is the only reason the Bills are in Buffalo but it's fun to see the team change under the Pegulas. Dolan is the worst owner in the NBA and potentially all of sports, although weirdly the Rangers do pretty well in spite of him. And the Mets have the Wilpons. For the last 15 years my three main professional teams have been saddled by owners who were and in some cases are holding them back.