All of the big software companies are like the parent describes, in most of their divisions.
Managers always want more headcount. Bigger teams. Bigger scope. Promotions. Executives have similar incentives or don’t care. That’s the reason why they’re bloated.
Honestly it was 10 years too late. The big innovations of the 2010 era were maturing. I’ve spent my career maintaining and tweaking those, which does next to zero for your career development. It’s boring and bloated. On the bright side I’ve made a lot of money and have no issues getting jobs so far.
Physical productive capacity is gone. Your global competitor is the de facto production hegemon. Debt has ballooned, and you can’t fund welfare programs. A big chunk of your country’s assets are owned by foreign investors.
But yes, you got a lot of cheap things before the music stopped.