> Software is a little like this as well. The observable quality issues are sort of the tip of the iceberg.

Most of the places I've worked cannot even resolve all of their observable quality issues, let alone the hidden ones. Hell, at most places I've worked, either it's a P0 emergency, a P1 must-do, or the defect will basically never be fixed, despite how visible it is or easy it is to diagnose and correct. The bug list always grows far faster than things get resolved, until it gets to a certain size and someone decides to "declare bankruptcy" and mass-close everything older than N days. Then, the cycle continues.