Using a throwaway for this comment, but my first experience with this kind of thing was in 2013 when I joined a major international company with over 100k employees worldwide and realized that there were entire departments and organizations dedicated to delivering no value at all. Departments with 100s of people, with middle managers making several times the average salary in my country, where after years of work nothing of value was delivered and nobody was held responsible. I always wondered how companies like this can even exist and why shareholders invest in them.