My theory is that executives must be so focused on the future that they develop a (hopefully) rational FOMO. After all, missing some industry shaking phenomenon could mean death. If that FOMO is justified then they've saved the company. If it's not, then maybe the budget suffers but the company survives. Unless of course they bet too hard on a fad, and the company may go down in flames or be eclipsed by competitors.
Ideally there is a healthy tension between future looking bets and on-the-ground performance of new tools, techniques, etc.
They're focused no the short-term future, not the long-term future. So if everyone else adopts AI but you don't and the stock price suffers because of that (merely because of the "perception" that your company has fallen behind affecting market value), then that is an issue. There's no true long-term planning at play, otherwise you wouldn't have obvious copypcat behavior amongst CEOs such as pandemic overhiring.
You're neglecting the cost of testing and validation. This is the part that's quite famous for being extremely expensive and a major barrier to developing new therapies.