I'm a frequent business travelers (and adventure traveler) and seem to deal with the issue of my dress shoes being crushed in my luggage. Does anyone know of a product that exists that protects shoes while traveling? The products i've found are just bags to keep your shoes from touching your clothes.
Travel shoe bag that protects
Stuff a few pairs of socks inside your shoes and then put the shoes in a bag - who needs a flashy 'product'. It looks like this is a setup by 'gearhead' for a spam-drop! 
not a spam-drop. Sock are def not enough. This is a legit issue. Quite annoying to see my $350 pair of shoes being deformed from a ride in the suitcase. Shoe trees could possibly work, but just add weight and clutter. i can't imagine i'm alone on this.
So use something more substantial than socks, that you already need to carry.
How about your toiletries bag? I use one of my eagle creek pouches for toiletries, it would be easy for me to switch to one of the long thin ones that would fit in a shoe.
That's one foot sorted. 
Or just stuff socks in more compactly.
I guess it looked like a bit of a spam setup since this is quite a "first world problem" , ie seems quite a minor thing. My answer is not to take smart shoes - then they don't clash with my unironed clothes.
My husband was a business traveler for about 30 years in total. And never had crashed shoes. I don't know what you do? Put some socks in the shoes,, that's all.
Are your shoes so bad?
This "problem" has never been a big concern of me. If this is a serious concern for you buy a cheap shoe stretcher thing. Stuff it in the shoe and it will keep the shape. If this was important to me I would shape some free styrofoam into a "foot" and stuff that in. Plus side no real additional weight too!
For me, if a shoe is a little crushed it is temporary because after I stuff my size (US) 13 feet in they stretch out okay!
Okeydokey!
Do you have a soft case or hard case luggage? If you have a soft case perhaps you need to look into getting a hard case? If you do have a hard case than another option would be to put your shoes in some sort of box for extra protection.
This may sound counterintuitive but the most expensive and highest quality leather shoe can crease very prominently. The sock solution is best when used with a "good" pair. Where you pack the shoes also matters. I have a Red Oxx Air Boss bag; and the extra pair goes in the center compartment that protects it from being crushed. The shoes are packed in a plastic bag sideways, in the same way the shoes came in the box when new.
Quoting gearhead
I'm a frequent business traveler...
If this is a problem for you, could wearing your expensive shoes when traveling on business be an option in order to avoid packing them? Many business travellers often wear their smart attire while in transit.
If not...
You can easily find shoe trees that are very light in weight - they're made of hollow but sturdy plastic. I don't see how they'd add clutter as you say they would - they'd be inside your shoes in your suitcase/bag - those shoes contain space you don't seem to want to fill with items you'd be packing anyway... so keeping the shoe trees where they belong (when the shoes are not on your feet) while in transit elimintes the shoe trees from being clutter.