I don't think that's it. I personally think the best window into this world is William Binney and his thinthread project. He developed thinthread to protect Americans privacy, and it only was going to cost a handful of millions.
His functioning program was scrapped for a billion dollar program that didn't protect Americans privacy and that didn't work because all it did was make the haystack so big finding the needle became neigh impossible.
That is a clear example of the good ol boy kickback system being allowed to take over and actually reduced national security. There is a reason that since 9/11, multiple counties in VA have the most growth of millionaires in the country.
As for the CIA, most sources I listen to (Ray McGovern, John Kirakou, Bob Bear, etc) indicate they have been getting rid of analysts who speak "truth to power" due to the over politicalization of intelligence, so combine that with good ol boy kickback cruft, it's no wonder incompetence is allowed to abound.
This is only a part of the reason the military Intel community has tended to have an adversarial attitude to the company.