Condit would probably still set in motion the moves that enabled the rot - moving HQ, unrealistic targets for 7X7 (now known as 787), selling off portions of Boeing to skim just the cream at the top, and so on.
Not letting Boeing grab McDonnell-Douglas military projects might have stopped some of that, but it might have also accelerated it.
Except that if it accelerated it then there would still be an independent McDonnel-Douglas to pick up the slack by getting into the passenger airliner business, and in turn the possibility of that would keep pressure on Boeing to clean up their act.
My impression was that it was a reverse buyout. Where did senior management come from after the merger?