How is holding shares good for the family but not good for other shareholders?

This looks like a conservative, family run company that prefers sustained long-term growth rather than boom and bust cycles. There is nothing wrong with a stable growth strategy--and it appears that Weis has been successful in implementing it.

If you want a leveraged company with high risk/reward, there are plenty of those out there. The quality of this company's management, however, should not be judged by investment preferences of one individual.