Totally unrelated companies have these exact same flaws. Clueless middle management driven by money and ego making these destructive decisions. At the same time, a group of engineers at a startup without much management can go rogue and burn millions on fancy tech and frameworks without making anything useful.
The only successful projects I have seen is with a capable senior engineer in the team, who can listen and understand what a tradeoff is. If this senior is trusted by both the team and the manger the team can be effective.