Former Uber engineer here. I can assure you that while our engineering team was massive, there was anything but too little work. If anything most engineers were massively overtaxed. Whether or not the work we were undertaking was meritious and valuable is an entire branch of philosophy I'm pretty sure.
Part of the struggle at big companies is that a lot of existing solutions just don't work. Let me use an example with chat. A few years ago Slack was evaluated as a replacement for HipChat, since Atlassian's outages had finally started affecting us during our own outages.
Everybody wanted to go to Slack, but the cost of Slack was tremendously prohibitive and the state of the service then (as I was told) was such that it could not support a company of Uber's size. Tremendous effort would have been undertaken by Slack to support Uber and they didn't want to expend that effort for a single customer. This was late 2015 early 2016.
There were tons of options, but ultimately an in-house chat software was created. At the time it seemed required to make our own highly reliable chat, considering how distributed engineering teams were. I think if you talk to anybody without the background of how chat evolved at Uber they would think the in-house chat project would have been a boondoggle.
Not all over-scoped engineering projects are actually so noble. There was certainly a ton of "reinventing wheels" going on. There was significantly more "these problems are really hard and I only have bad solutions."
Though if the result is ultimately, "nothing more than interesting repos amongst a sea of interesting repos" sign me up.