The seemingly-infinite VC money being thrown around around means you can create a startup, raise some money and provide a comfortable salary & industry experience for yourself and your friends for a few years, regardless of whether the company "makes it" in the end or whether the business problem is even solvable.
At this point solving the business problem is no longer the primary objective. The longer you can drag out the process of "solving" this problem the longer you & your employees can enjoy the salary and build "experience". So instead of a simple solution that needs a team of 5, you end up with an engineering playground that needs 50 people (and associated managers, scrum masters, etc) spread across many teams just to keep the lights on. The outcome becomes endless busywork, self-inflicted problems to brag about solving on your engineering blog (every startup has got to have one obviously) and next AWS conference to attract more employees looking for this kind of environment and make yourself look "serious" in the eyes of VCs that keep bankrolling the disaster.
The business problem, if it gets solved at all, is a secondary concern since the VCs happily keep throwing more money into the dumpster fire and some bigger idiot might even buy out the company regardless of its inefficiency.