It's correct though.
90% of code is just reinventing the wheel, over and over again. And not just specialised modules like payments. Its insane that even small companies have "data experts", "UI/UX designers". Best practice is actually quite narrow and less important than we think, better to have 30 great designers working on the best way to allow users to interact with devices than 30.000 wasting time. Likewise, its better to have a bunch of smart people working on abstracting away data storage then everyone digging through AWS docs.
The truth is, WE have not been able to agree on standards of software development that would see the complexity abstracted so we can write applications faster. And because of this, cloud platforms and SAAS providers are filling the gap and increasing in power.
Every time I watch the mother of all demos [1] I feel depressed. Its as if builders were given the power to create new construction materials from scratch, for free. And then spent the next 50 years arguing over whose material is better than actually building cool stuff.
[1] https://www.youtube.com/watch?v=yJDv-zdhzMY