Having led engineering in SF big tech and now building my own startup, I’ve heard this exact argument countless times. I believe it is precisely why large tech companies are losing their ability to innovate.
Engineering shouldn't be an academic pursuit of "good engineering" for its own sake. It is fundamentally a business function. The objective is to achieve real world goals and build things people actually want, even if that means the solution is scrappy and unpolished today, so long as it solves an important problem cheaply and effectively.
In large organizations, accountability for actual value delivery is so diluted across the org chart that it practically disappears.
Leaders gravitate toward building bloated "internal platforms" that offer little external utility. Engineers over-engineer simple problems because their performance reviews reward technical complexity, not business impact. It becomes a systemic shield, allowing the old guard to justify their headcount without delivering new value.
Software engineering is uniquely plagued by this. Civil engineers understand their objective: build a bridge that safely carries traffic within a specific budget. They don't invent a novel, hyper-complex suspension architecture when a standard short-span bridge will do the job.