Well, freeing it up to compete. I expect some of the bloat is just so that someone can't work for a competitor.
There are programmers and senior programmers, data designers and senior etc. There are also team leads and program managers. There's basically two tracks, you either create stuff or you manage the creation of it.
They have different titles now, and there's a lot of Agile fluff (how is a scrum master not just a secretarial service and the function of a team leader not to keep their meetings focused?)
Software has way gone out of the stage where one person keep the recipe for the secret sauce, and could change the game.
No one is irreplacable.