That's not a measure of how much work engineers are doing. It's a measure of how effective the company is at making money from the work their engineers are doing.
The company with (let's say) identically-skilled employees putting in twice as many hours probably won't be the more profitable of the two.
Replace "mow lawns" with "write pointless, doomed-from-the-start messaging apps" and the actual problem starts to become clear.