Great post! I've been at GS for ~8 years and I can say this is a pretty accurate description of what a GS internship is like nowadays. These 2 points ring out as the most true to me:
1. Lots of red tape. You need to get approvals for any and all access. You're 100% right, its all regulation stuff, but its still annoying as fuck. And since there are so many approvals being requested left and right, managers tend to get swarmed and not really care too much about 99% of requests so its just a matter of chasing to get things approved. To add an annoying cherry on top one of the main systems that you request access through is a bit of a legacy system, so propagation of approvals takes a few hours, which sometimes leaves you sitting on your hands and just waiting. Its not too bad though, and in the last few years a lot of effort has been put into reducing these waiting times.
2. Inhouse building. GS suffered from this a lot, as did all the big banks in the past. All of our legacy is inhouse and it slows us down today. The good news (which you also alluded too) is that for the last ~5 of so years there have been monumental shifts in pushing us towards open-source ways (shameless plug, we even have open source roles we are hiring for: https://bit.ly/3GkJGCM ), so modern development in GS is getting much better.
My only question here which you didn't address in the blog post is: if GS offered you a permanent role, would you take it?