Everyone underestimates the complexity of systems they aren't personally familiar with. Ask the average person how many parts are in a modern automobile and they'd probably guess too low by an order of magnitude.
But it is also true that large organizations get weird when money is easily available. You get a Cambrian explosion where without selection pressure to ensure people and teams do real, useful work, everything starts to seem like a good idea.
Determining which organizational complexity is essential and which is accidental is likely the quintessential hard problem of business.