I've seen teams build and re-build the same infrastructure over and over.
I saw a request that could have been met with a few SQL queries and a dashboard got turned into a huge endeavor that implements parts of an ETL, Configuration Management, CI/CD, and Ticketing system and is now in the critical path of all requests all because people didn't ask the right questions and the incentive in a large organization is to build a mini-empire to reign over.
That said, smart infrastructure investment absolutely can be a competitive advantage. Google's infrastructure is, IMO, a competitive advantage. The amount of vertical integration and scale is unparalleled.