>Based on the fact that they've gone through several waves of layoffs and nothing significant has broken yet.

But a bunch of stuff did break. Famously 2FA stopped working, there has been an explosion of spam, and other widely reported issues- which are only the ones we know about - there could very well be some truely abhorrent stuff going under the hood to keep the wheels from falling off.

The idea that a week or two of something other than total violent collapse being a measure of how well you're handling staffing has got the smell of management track thinking all over it.