Yes, yes they would. And they do. Regularly.
When you've spent enough time in the IT Department, you'll see companies demand that you "cut laptop costs" or similar. Because when you're buying 250 laptops a year, the people with the budgets go "OMG we're spending half a million a year on laptops". So changes are made to the configuration, maybe small SSD but often times it'll be something like less RAM, or slower CPU - because purchasing controls aren't that fine. Great, you've now cut $200 per laptop and the money people are excited to see you've saved $50,000/year.
Do they understand that now there are 250 people, which probably all cost more than $100,000/year, whom aren't quite as efficient as they could be? Nope. And they don't care. The budget says you get X. The personnel cost is attributed in some other category not to be touched.
Almost no one at a higher level looks at the puzzle and goes "Well we should spend $250/year to get this $250,000 asset productive". They look at the situation and go "We've got 100 developers, ain't no way we're spending $25k/year on this product. It's not in budget."
Lastly the per-employee cost adds up. It's $11/mo for SSO. $18/mo for email suite. $19/mo for Gitlab. $14/mo for Jira. $5/mo for Confluence. $3/mo just to put SAML on Jira & Confluence. $8/mo for Password vault. $12/mo for Slack. $17/mo fro Zoom. $17/mo for Lucidchart. $12/mo for Laptop MDM. That's not everything an employee needs, heck it doesn't even cover HR products (Workday? 15Five? Applicant Tracking?), Training (probably a couple of those), EDR/AV for laptops, and dozens of other smaller services. Sure adding another $21/mo isn't going to change the number a lot on an individual basis, but it adds up really fast when you multiply it out across all your Developers.
And don't forget. How do you rationalize that your container software costs more than your source code control solution? One of those two things you can very easily live without... and it's Docker.