That's what I mean, you literally hire 10 different teams and tell them "hey make me a health insurance matching website".
Incredibly wasteful, but probably less wasteful than what they already are doing :D
Waste is entirely a matter of perspective. Calling it waste implies there's a practical solution that's better, when it may be completely unreasonable to posit such a hypothetical.
This approach is essentially an evolutionary strategy, and I would think twice about accusing nature of waste.