Reminds me of a (probably the) reason we're doing standardized testing in schools. A decent teacher is able to teach and test kids much better than standardized tests, but the society needs consistency more than quality, and we don't trust that every teacher will try to be good at their job. That (arguably, justified) lack of trust leads us as a society to choose worse but more consistent and people-independent process.
I'm starting to see this trend everywhere, and I'm not sure I like it. Consistency is an important thing (it lets us abstract things away more easily, helping turn systems into black boxes which can be composed better), but we're losing a lot of efficiency that comes from just trusting the other guy.
I'd argue we don't have many PARC and MIT around anymore because the R&D process matured. The funding structures are now established, and they prefer consistency (and safety) over effectiveness. But while throwing money at random people will indeed lead to lots of waste, I'd argue that in some areas, we need to take that risk and start throwing extra money at some smart people, also isolating them from demands of policy and markets. It's probably easier for companies to do that (especially before processes mature), because they're smaller - that's why we had PARC, Skunk Works, experimental projects at Google, and an occasional billionaire trying to save the world.
TL;DR: we're being slowed down by processes, exchanging peak efficiency for consistency of output.