If it's too expensive that is clearly poor engineering.
it's a cute sentiment, but it throws out on-the-edge engineering work that produces little product, or engineering that is subsidized elsewhere where the cash value is of little importance.
For example, I never thought the fine folks engineering at NASA were idiots, nor the people at defense groups like Northrop Grumman -- but i'd hardly call their wares a good 'cash value'.
Could equally be considered poor engineering but might be looked on slightly more charitably.