More like Not Invented Here syndrome to the level of fatal pathology.
If you could design a corporate culture that minimized the incentives towards both, I think you'd be a long way towards having a more sustainable company viz technology.
A side dish of LULZ was that they were experimenting with moving the VMs to EC2, so there is probably Ultrix in EC2 now.
This stuff is really, really common in large "mature" industries and government.