There are a lot of administrative staff at research universities whose jobs support... research. Is there bloat and are there too many managers/VPs? Probably somewhat, but the more of the grant administration work that gets pushed back down to PIs and research groups, the less time they have for research. They will also make many mistakes in both grant applications and how they spend the money, because the regulations are byzantine. That will jeopardize future funding and possibly get them penalized.