Couldn't agree more. I've done security consulting for many companies of varying sizes. The large ones almost universally have massive security budgets, constant pentesting, and security audits/processes out the ass. They still get breached because security is fucking hard, no matter how much money you throw at it.
I don't buy in to the whole "if only those evil MBA manager types would allocate more budget to security and take security more seriously, they wouldn't get hacked". Every company I've worked at is scared shitless of being hacked, and have enormous security budgets. The management chain usually takes it very seriously. IME, a huge part of the problem actually ends up being the individual development teams who skip things like encryption because they think it's too onerous or they just think it's frivolous.
I cannot even begin to tell you the amount of time I have had to spend with developers arguing with them that they do need to do things like encrypt PII or enable HTTPS. "But it's only a small database of SSNs, do we really have to encrypt it? We would rather spend the developer time building something else rather than implementing encryption!" they say, and then spend hours/days arguing about it rather than just doing it.