If there's no competent front-line technical management who can successfully make this simple comparison, then, sure, in that case the team may be fucked.
In general, I agree that you can and should judge (not necessarily measure) thing like simplicity and good design. The problem is that business does want the "increased this by 80%, decreased that by 27%" stuff and simplicity does not yield itself to this approach.
Building a system that's fast on day one will not usually be rewarded as well as building a slow system and making it 80% faster.
His response: "I can sell a good looking car and then charge them for a better running engine"...
https://www.youtube.com/watch?v=T4Upf_B9RLQ hits a little too close to home.
(when there is a simpler design over more complex "big ball of mud abomination" in contrast)
That's regardless of the lip service they pay to cost cutting or risk reduction. It will only get worse, in the AI economy it's all about growth.
My experience is no one really gets promoted/rewarded for these types of things or at least not beyond an initial one-off pat on the back. All anyone cares about is feature release velocity.
If it's even possible to reduce incidents by 80% then either your org had a very high tolerance for basically daily issues which you've now reduced to weekly, or they were already infrequent enough that 80% less takes you from 4/year to 1/year.. which is imperceptible to management and users.
And at the same time it's impossible to convince tech illiterate people that reducing complexity likely increases velocity.
Seemingly we only get budget to add, never to remove. Also for silver bullets, if Big Tech promises a [thing] you can pay for that magically resolves all your issues, management seems enchanted and throws money at it.